A closer examination of the recently released Quarterly Sales by Price and Financing reported by the U.S. Census Bureau reveals that FHA-Backed sales made up 20.4% of new home sales in the second quarter of 2020.
Wood Markets News
CoreLogic® Reports Home Price Appreciation Slowed Slightly in May 2020
CoreLogic® has released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2020. The index is reporting that home prices rose 4.5% year-over-year, but were down -0.1% from April’s reported 4.6%.
Belarus Increases Exports of Cut Timber to China
In the first half of 2020, Belarus, working with Bellesexport and the Belarusian Universal Commodity Exchange Team has shipped 9 container trains, or just over 500 containers of cut timber to China.
Canada’s Lack of Log Exports to Japan Could be First Documented Violation of the Trans-Pacific Partnership
In spite of a side deal to the Trans-Pacific Partnership (TPP), intended to ensure stable supply, log exports from Canada to Japan have dropped significantly in recent months.
Fast + Epp’s New 4-Story Mass Timber Hybrid Building Shell Completed in Just 4-weeks
The 4-story mass timber hybrid office building at 7th Ave & Yukon Street, in Vancouver B.C., will be the home of Fast + Epp Engineering Company in late 2020.
Architect Suggests Replacement of Iconic Seattle Bridge Should be a Hybrid Design
The Seattle Department of Transportation (SDOT) is just under 3-months away from deciding what to do with one of Seattle’s most iconic bridges.
TopHat Enters into 5-year Agreement with BoKlok to Build 200 New Affordable Homes in UK
The United Kingdom’s provider of affordable homes BoKlok UK, which is jointly owned by Skanska and Ikea, has announced the appointment of TopHat to construct its first houses in the UK.
Affordability Remains a Stumbling Block to Home Ownership in 2nd Quarter of 2020
A deeper look into the second quarter of 2020’s National Association of Home Builders (NAHB) Housing Trend Report (HTR) reveals that only 23% of prospective buyers can afford at least half of the homes available in the areas they are searching.
Shift from Urban Condo to Suburban New House Living Continues
A deeper dive into the U.S. Commerce Department’s report on the sales of new single-family homes for June reveals that as the COVID-19 pandemic continues there is a noticeable move from condos towards new houses.
First-Time Existing Homebuyers Increase Their Share in the Marketplace
According to the June Realtor® Confidence Index Survey, the share of first-time homebuyers who purchased existing homes rose to 35% of total sales.