The U.S. Bureau of Labor Statistics reported today (2-17-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.3% in January. January’s increase is the largest since the PPI began in December 2009.
Wood Markets News
Builder Confidence Rebounds to a Reading of 84 in February
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports that builder confidence in the market for newly built single-family homes rebounded 1-point in February, after two consecutive months of declines, to a reading of 84.
Shares of Mortgages in Forbearance Decline in Week Ending February 7, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 6 basis points from 5.35% of servicers’ portfolio volume in the prior week to 5.29% as of February 7, 2021.
Mortgage Applications Decline 5.1% in Week Ending February 12, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending February 12th, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -5.1% on a seasonally adjusted basis from one week earlier.
Wood Product Sales Lead Canadian Manufacturing Sales Higher in December
Statistic Canada is reporting that manufacturing sales rose 0.9% to $54.2 billion in December. Sales were up in 9 of 21 industries, led by the wood product, transportation equipment, and petroleum and coal product industries.
Canadian Home Sales Set Another All-Time Record High in January 2021
The Canadian Real Estate Association (CREA) is reporting that national homes sales in Canada set another all-time record in January 2021. Month-over-month (M-O-M) (December 2020 – January 2021) homes sales in Canada increased by 2%.
Property Taxes at the State and Local Level Have Increased Nearly 20% in Last 4-years
Analysis provided by the National Association of Home Builders (NAHB) of the U.S. Census Bureau’s Quarterly Tax Data reveals that U.S. property owners paid $633.9 billion in taxes in the four quarters ending in Q3 2020.
The National Association of Realtors® Reports Home Prices Increased in Every Metro Area Tracked in 2020
The National Association of Realtors’® (NAR) latest report reveals that 88% of the metro areas it follows (161 areas) posted double-digit price gains in the Q4, up from 115 metro areas in Q3. For all of 2020 home prices increased in every metro area the NAR tracks.
German Engineering Federation Anticipates 3% Increase for Woodworking Machinery
VDMA (Verband Deutscher Maschinen-und Anlagenbau, German Engineering Federation) which represents 3300 German and European mechanical and plant engineering companies remains optimistic for an improving business climate in 2021. VDMA is expecting a 3% increase in product sales.
Year-Over-Year, Week of February 7th, 2021 Breaks Several Housing Records
According to the latest report from Redfin, the Seattle-based technology-powered real estate brokerage, year-over-year – comparing the second week of February 2020 to February 2021 the median home sale price increased 15% to $318,750.