According to the Mortgage Bankers Association, mortgage loan application volume decreased 0.8% on a seasonally adjusted basis from one week earlier. Unadjusted, the index decreased 2.0%.
Wood Markets News
Single-Family Built-For-Rent Construction Market Cools as Investors React to Tighter Financial Conditions
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions, according to the US Census Bureau and the National Association of Home Builders.
Home Price Gains Reported in 60% of US Metro Areas in Q2
Almost 60% of metro markets—or 128 out of 221—registered home price gains in 2023Q2, according to the latest quarterly report from the National Association of Realtors®.
Domain Timber Advisors Completes Sale of 2,900 Acres of Timberland in Southeast Arkansas
Domain Capital Group and its subsidiary, Domain Timber Advisors, announced the disposition of approximately 2,900 acres of timberland in southeast Arkansas.
Canadian Homes Sales Decline 0.7% Month-Over-Month in July, Canadian Real Estate Association Reports
Home sales recorded over Canadian MLS® Systems posted a 0.7% month-over-month decline in July, according to the Canadian Real Estate Association.
US Builder Sentiment Declines in August
The National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes declined 6 points in August to a reading of 50.
Loan Originations for Commercial/Multifamily Properties Decline 53% Year-Over-Year in Q2
Commercial and multifamily originations were 53% lower in 2023Q2 compared to 2022Q2, according to a survey by the Mortgage Bankers Association.
Canadian Consumer Price Index Continued to Increase in July
StatCan reported that the Consumer Price Index (CPI) grew 3.3% year-over-year in July. The increase in the CPI was mainly attributed to a base-year effect in gasoline prices.
University of Pennsylvania Celebrates Topping Off of 6-Story Mass Timber Hall
The University of Pennsylvania is celebrating the topping off of its Amy Gutman Hall and the completion of the building’s frame for the new School of Engineering and Applied Science.
US Building Materials Costs in Residential Construction Inch Higher in July
The prices of goods used in residential construction, excluding energy, increased 0.2% in July, not seasonally adjusted, according to the Bureau of Labor Statistics June Producer Price Index and the NAHB.