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.
Wood Markets News
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.
Canada’s Atlantic Provinces Lumber & Building Materials Dealers Discuss Product Shortages
Lumber, hardware and building materials dealers throughout Canada’s Atlantic provinces are reporting that they are experiencing, a shortage of key lumber, panel, hardware and building materials items.
British Columbia Provincial Grant to Provide On-Site Work Experience to Nine Workers Affected by Recent Mill Curtailments
The Invasive Species Council of British Columbia (ISCBC) learned it will receive over $550,000 from the Province’s Community and Employer Partnerships program (CEP) to provide on-site work experience to up to nine workers affected by recent mill curtailments.
Lumber and Panel Industry Not Prepared for Surge in DIY and Home Remodeling Projects During COVID-19 Pandemic
According to Statistics Canada, 5.5 million Canadian workers have been impacted by shutdowns, either from loss of employment or COVID-19 related absences.
New Home Sales Climb Higher in June
The U.S. Census Bureau is reporting that sales of new single-family houses in June 2020 were at a seasonally adjusted annual rate of 776,000.
NAHB Reports Real Rent Index Declined For the First Time Since 2013 in June
The National Association of Home Builders is reporting that their Real Rent Index (RRI) declined by ~0.1% in June.
Mortgage Rates Move Modestly Higher in Week Ending 23rd July
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 23rd July 2020.
USDA Zero Down Home Mortgage Loans are Helping Home Buyers with Lower Income Become Homeowners
When it comes to buying a home and getting a mortgage most potential home buyers have at least some familiarity with Fannie Mae and Freddie Mac.