According to the National Association of Realtors®, Market Recovery Survey, which was released on Thursday 7-9-20, 45% of NAR members are reporting that their markets are slowly starting to recover from the impacts of the COVID-19 pandemic.
Wood Markets News
Total Consumer Credit Declines for Second Month in a Row
According to the latest Federal Reserve’s G.19 Consumer Credit Report, which tracks consumer credit, which excludes loans secured by real estate, through May 2020, consumer credit decreased at a seasonally annual adjusted annual rate of 5.3% from the previous month.
FEA’s Weekly Order Survey Reports Dealers Remain Upbeat thanks to Continuing Positive Economic News
After late last week’s pause for the 4th of July holiday, dealers responding to this week’s survey, reported an uptick in sales and deliveries to their contractor customers jobsites.
FEA’s Weekly Orders Survey
After late last week’s pause for the 4th of July holiday, dealers responding to this week’s survey, reported an uptick in sales and deliveries to their contractor customers’ job sites.
Mortgage Rates Hit Another Record Low, in the Week Ending July 9th
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 9th July 2020.
Weekly Jobless Claims Drop in the Week Ending July 4th
The U.S. Department of Labor is reporting that an additional 1.314 million Americans made their initial filing for unemployment benefits during the week ending on Saturday July 4th.
Canadian Housing Starts Jump 8.3% in June
The Canadian Mortgage and Housing Corporation (CMHC) is reporting that the seasonally adjusted annualized rate of housing starts in Canada rose by 8.3% to 211,681, from a revised 195,453 units in May.
CoreLogic Predicting Home Prices Will Decline Nationwide Over the Next 12 – 18 Months
CoreLogic, a leading provider of consumer, financial and property data, analytical and services, is predicting that in spite of home prices increasing 4.8% year-over-year in May, that home prices will stall over the summer and they estimate decline by -6.6% by May 2021.
Fannie Mae’s Home Purchase Sentiment Index is on the Rise
According to Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, increased 9-points in June to a reading of 76.5.
Construction Sector Hiring Recovers in May
A deeper review of the Bureau of Labor Statistic (BLS) Job Opening and Labor Turnover Survey for May, providers a clearer picture of employment in the construction industry.