Redfin reported on Thursday that in the four weeks ending January 15th, the median US home-sale price increased 0.9% from a year earlier to $350,250. This is the biggest increase in a month.
Wood Markets News
New Home Mortgage Applications Declined Month-Over-Month and Year-Over-Year in December
The Mortgage Bankers Association reported on Friday that data from its Builder Application Survey for December revealed mortgage applications for new home purchases decreased 5% month-over-month and 25.2% year-over-year.
Existing Home Sales Down Month-Over-Month and Year-Over-Year in December
The National Association of Realtors® reported on Friday that total existing home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—recorded a 1.5% monthly decline in December, reaching a seasonally adjusted rate of 4.02 million homes.
US Housing Starts, Permits, and Completions All Fell in December
The US Census Bureau reported on Thursday that privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,382,000. This is 1.4% below the revised November estimate of 1,401,000. Single-family housing starts in December were at a rate of 909,000.
Simpson Strong-Tie Acquires EstiFrame Technologies
Simpson Strong-Ti announced on Tuesday that it has acquired EstiFrame Technologies, located in Elk Grove, California. EstiFrame, founded in 2017, provides component manufacturing and framing technologies to the construction industry, including EasyFrame.
Remodeling Sentiment Dipped in Q4 but Remains in Optimistic Territory
According to the National Association of Home Builders/Westlake Royal Remodeling Index for 2022Q4, remodelers market sentiment declined 17 points year-over-year, from a reading of 83 in 2021Q4 to a reading of 66 in 2022Q4.
Wisconsin-Based WholeTrees Structures Hopes to Reopen Shuttered Mill in Ashland, Maine
WholeTrees Structures has announced its intentions to reopen the shuttered MooseWood Millworks flooring plant in Ashland, Maine. WholeTrees plans on using the facility to become Maine’s first manufacturing plant for a natural log product known as structural round timber.
Fixed Mortgage Rates Move Lower for Third Consecutive Week
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending January 19, 2023. The 30-year fixed-rate mortgage averaged 6.15%, down from last week when it averaged 6.33%. A year ago at this time, the 30-year rate averaged 3.56%.
US Weekly Jobless Claims Decrease
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 190,000 during the week ending on Saturday, January 14, 2023. This is a decrease of 15,000 from the previous week’s unrevised level of 205,000.
Mercer International Announces Three-week Curtailment at Its Celgar, BC, Pulp Mill Starting in March
Mercer International announced on Tuesday that due to a lack of appropriate fiber availability, its pulp mill located in Celgar, British Columbia, Canada is planning to take an approximately three-week downtime. The curtailment is scheduled to begin in March.