Wood Markets News


The Number of Multifamily Rentals Units Under Construction Grows, While Unit Size Hits Two-Decade Low

A closer look at the U.S. Census Bureau’s Quarterly Starts and Completions by Purpose and Design data, with further analysis provided by the National Association of Home Builders (NAHB), reveals that the market share of rental units of multifamily construction starts increased to 94.2% during Q4 2021. In comparison, the historical low was set during Q3 2005.

Competition Between Home Buyers Hits Record Level in January 2022

Redfin, the Seattle-based, technology-powered nationwide real estate firm, is reporting that 70% of home offers written up by their agents in January (seasonally adjusted) were involved in a bidding war. That figure is up from 67.7% in December and from 61% in January 2021. In fact, it is the highest share since at least April 2020.

Single-Family Home Size Continued to Grow in Q4 2021

According to Q4 2021 data from the U.S. Census Bureau’s Quarterly Starts and Completions by Purpose and Design, and additional analysis provided by the National Association of Home Builders (NAHB), median single-family square foot floor area increased to 2,338 square feet.

U.S. House Prices Increase 17.5% Year-Over-Year

According to the Federal Housing Finance Agency (FHFA) House Price Index® (HPI®), released today (2-22-22), U.S. house prices rose 17.5% from the fourth quarter of 2020 to the fourth quarter of 2021. House prices were up 3.3% compared to the Q3 of 2021. FHFA’s seasonally adjusted monthly index for December was up 1.2% from November.

U.S. Home Prices Post Annual Gain of 18.8% in 2021

According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported today (2-22-22) that home prices experienced a 18.8% annual gain in December. This matches the gain in November, but is down from a 19.0% annual gain in October and a 19.7% annual gain in September 2021.