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.
Wood Markets News
Shares of Mortgage Loans in Forbearance Decline to 1.30% as of January 31, 2022
According to the new monthly Mortgage Bankers Association’s (MBA) Loan Monitoring Survey (LMS), the total number of loans now in forbearance decreased by -11 basis points from 1.41% of servicers’ portfolio volume in the prior month to 1.30% as of January 31, 2022. The MBA estimates that 650,000 homeowners remain in forbearance plans.
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.
Consumer Confidence Declines for Second Consecutive Month in February
The Conference Board, a non-partisan, not-for-profit think tank, founded in 1916, released today (2-22-22) their Consumer Confidence Index® (CCI) for February 2022. The CCI decreased slightly in February, after a decline in January. The Index now stands at 110.5 (1985=100), down from 111.1 in January.
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.
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.