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.
Wood Markets News
New Condo Complex Planned for West Toronto to be Prefabricated Offsite Utilizing CLT
In West Toronto, Ontario, Canada, construction of a new 83-unit condo complex is about to get underway. The condos will […]
Australia’s Farm Forestry Assistant Program Supports Local Softwood Plantation Industry
Australia’s Forestry Minister Dave Kelly has launched the Farm Forestry Assistant program (FFAP) for 2022. The program supports farmers and landowner who wish to plant pine trees on their land.
Custom Home Building Continued to Expand in 2021
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), reveal the custom home building expanded in 2021 by 10.8%.
Mortgage Applications for New Home Purchases Up Month-Over-Month but Down Year-Over-Year in January
According to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) for January 2022, mortgage applications for new home purchases declined -12.5% year-over-year.
Home Prices Increase 1.5% Month-Over-Month and 19.9% Year-Over-Year in January
According to Zillow®’s, latest monthly report, home buyers will be facing another difficult shopping season. Home shoppers hoping for an injection of options and relief from heightened competition after December’s inventory drought instead saw the biggest decline in at least three years.
Despite Setbacks, Hampton Lumber Anticipates Opening Fort St. James, B.C. Sawmill This Summer
Oregon-based Hampton Lumber Company is still anticipating a summer opening of their new sawmill in Fort St. James, B.C. The plan remains on track despite the negative impacts from the COVID-19 pandemic, supply chain shortages, and the weather.
Townhouse Construction in U.S. Increases Quarter-Over-Quarter and Year-Over-Year in 2021
According to the U.S. Census Bureau’s data for Starts and Completions by Purpose and Design, with further analysis provided by the National Association of Home Builders (NAHB), townhouse construction increased by 28.1% in 2021. In 2020, medium-density construction lagged as housing demand shifted to more suburban and exurban areas.
Homes Sales Accelerating at Record-Breaking Pace
According to the latest report from Redfin, the Seattle-based, technology-powered real estate brokerage firm, in the four weeks ending February 13, 2022, homes sold faster than ever before. A record 57% of homes that went under contract did so within two weeks of being listed.
Existing Home Sales Increase 6.7% Month-Over-Month in January 2022
The National Association of Realtors® (NAR) reported on Friday (2-18-22) that total existing home sales (completed transactions for single-family homes, townhomes, condominiums, and co-ops) rose 6.7% in January from December to a seasonally adjusted rate at 6.50 million homes.