The price of inputs to residential construction, goods, remained flat in August after increasing 0.1% in July, the BLS and NAHB reported.
Wood Markets News
Canadian Industrial Product and Raw Materials Price Indexes for August
Prices for lumber and other wood products rose 2.1%, with softwood lumber rebounding 7.7% after four consecutive monthly declines.
US Housing Payments Post Biggest Year-Over-Year Decline Since May 2020
During the four-week period ending on September 15th, the median US housing payment was $2,534, down 2.7% from a year earlier—the biggest decline since May 2020—Redfin reported.
Canadian Rail Freight Data for July
Canadian railways transported 29.9 million tons of freight in July, up 1.6% year-over-year, marking the fourth consecutive annual increase.
Share of US Custom Built Homes Declined in 2023
18.8% of all new single-family homes started in 2023 were custom homes, down from 20.4% in 2022, the Census Bureau and NAHB reported.
Commercial and Multifamily Mortgage Debt Outstanding Increases Modestly in Q2
The level of commercial/multifamily mortgage debt outstanding increased $31.4 billion, or 0.7%, in Q2, MBA reported.
West Fraser to Indefinitely Curtail Lake Butler, FL, Sawmill
West Fraser will indefinitely curtail its sawmill in Lake Butler, Florida, by the end of September.
Fannie Mae ESR Group Forecasts Existing-Home Sales in 2024 to Be at Slowest Pace Since 1995
Existing-home sales are not expected to pick up meaningfully through the remainder of 2024, the Fannie Mae ESR Group reported.
US Existing-Home Sales Slip 2.5% in August
Total existing-home sales declined 2.5% in August to a seasonally adjusted annual rate of 3.86 million, NAR reported.
US Fixed-Rate Mortgages Continue to Decline in the Week Ending September 19th
The 30-year fixed-rate mortgage averaged 6.09%, down from last week when it averaged 6.20%, Freddie Mac reported.