Redfin said existing-home sales rose 0.7% in November, reaching a seasonally adjusted annual rate of 4,269,850—the highest level since March 2023.
Wood Markets News
US Mortgage Applications Decrease in the Week Ending December 13th
Mortgage loan application volume declined 0.7% on a seasonally adjusted basis from one week earlier, MBA reported.
US Builder Confidence Holds Steady in December
The NAHB/Wells Fargo Housing Market Index (HMI) held steady at a reading of 46 in December, unchanged from November.
Canadian Housing Starts Climb 8.0% in November
The seasonally adjusted annual rate of housing starts was up 8.0% in November at 262,443 units, CMHC reported.
Upward Pressure on the Canadian Consumer Price Index Eases in November
The Consumer Price Index (CPI) rose 1.9% year-over-year in November, down from a 2.0% increase in October.
Mortgage Applications for US New-Home Purchases Decline 12.0% in November
Mortgage applications for new home purchases declined 12.0% in November but were up 7.2% year-over-year, MBA reported.
New Zealand to Build First Timber Bridge in 50 Years With Glulam
Construction on the first state highway bridge built from timber in 50 years in underway in New Zealand, Wood Central reported.
BC’s Sundher Timber Products Acquires Great Western Lumber in Everson, WA
Sundher Timber Products has recently acquired Great Western Lumber in Everson, Washington, according to BIV.
Fannie Mae ESR Group Releases Its Latest 2025 Housing Market Outlook
According to the ESR Group, affordability and the “lock-in effect” are expected to keep housing activity subdued in 2025, with existing-home sales forecast to move only slightly upward.
Canadian Existing-Home Sales Continue to Rise in November
Existing-home sales rose again in November, building on October’s surprising jump, CREA reported. Sales were up 2.8% and now stand a cumulative 18.4% above May.