The National Association of Home Builders’ (NAHB) is reporting in their Q4 2020 Remodeling Market Index (RMI) had a reading of 79. The reading shows remodelers’ strong confidence in their markets, for projects of all sizes, in spite of the ongoing negative impacts from the COVID-19 pandemic.
Wood Markets News
Weekly Jobless Claims Decline Slightly in the Week Ending January 16th, 2021
The U.S. Department of Labor is reporting that an additional 900,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday January 16th. A decrease of 26,000 from the previous week’s revised level.
Housing Starts and Permits Up in December and Year-Over-Year
The U.S. Census Bureau has reported that privately‐owned housing starts in December were at a seasonally adjusted annual rate (SAAR) of 1,669.000. This is 5.8% above the revised November estimate of 1,578,000 and is 5.2% above the December 2019 rate.
Charred Timber from Woodhead Wildfire in Idaho to Help Fund Idaho Schools
The Woodhead Fire, near Council Idaho, which started from unknown causes on September 7th, 2020, had not even been partially contained before the Idaho Department of Lands forestry team, knowing that for a limited time blackened timber still have a value, began evaluating the potential for selling burned trees as salvage sales.
Dodge Data & Analytics Reports Total Construction Starts Declined in December and Year-Over-Year
According to Dodge Data & Analytics, one of North America’s leading providers of commercial construction project data and workflow integrated solutions for the construction industry, in December total construction starts lost -5%, failing to a seasonally adjusted annual rate of $784.3 billion.
RE/MAX Holding Inc., Reports December Year-Over-Year Home Sales 21.9% Higher
According to new data released by RE/MAX, home sales during December increased by 6.2% from November and year-over-year were 21.9% higher. December will go down in the 2020 history books as the fifth busiest month for homes sales in the year and December 2020 sales were greater than all but two months in 2019.
Shares of Mortgages in Forbearance Declined in Week Ending January, 10th 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased from decreased from 5.46% of servicers’ portfolio volume in the prior week to 5.37% as of January 10, 2021.
Mortgage Applications Decline 1.9% in Week Ending January 15th, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 15th, 2021, the Market Composite Index , a measure of mortgage loan application volume, decreased -1.9% on a seasonally adjusted basis from one week earlier.
Builder Confidence Declines Further in January
The National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly built single-family homes declined 3-points to a reading of 83 in January.
Federal Government Amends Decades Old Ban on Logging Trees 21-inches or Greater in Eastern Oregon and Southeast Washington State
The decades-old ban on logging trees 21-inches or greater in diameter in national forest across eastern Oregon and southeast Washington was amended on Friday, January 15th, 2021, when U.S. Department of Agriculture Undersecretary James Hubbard signed off on the change.