Expenditures for home improvements to the owner-occupied housing stock are anticipated to decline in most of the nation’s largest metropolitan areas this year in response to the severe economic impacts of the COVID-19 pandemic.
Wood Markets News
U.S. Consumer Comfort Index Levels Record Smallest Decline in Six Weeks
According to Bloomberg, American consumer confidence fell for a sixth straight week.
Construction Spending in March Increases
The U.S. Census Bureau has announced that total construction spending during the month of March was estimated at a seasonally adjusted annual rate (SAAR) of $1,360.5 billion.
B.C. Provincial Government to Suspend Collection of Stumpage Fees for 3 Months
B.C. Forest Minster Doug Donaldson said on Thursday (4/30) that the provincial government will not collect stumpage fees for the next three months.
Bureau of Economic Analysis Reports Personal Income Declined 2% in March
According to data released by the BEA, personal income fell sharply in March, to a seasonally adjusted annual rate (SAAR) of $18,693 billion.
Toronto Embraces Modular Construction to Help Ease Homelessness
The City of Toronto Canada has announced that it will be moving forward with a $47.5 million (CAN) project to build 250 modular housing units.
Builders Confidence in 55+ Housing Market Drops to Lowest Reading Since 2012
According to the NAHB’s 55+ Housing Market Index, builders confidence in the single-family 55+ housing market fell 30 to a reading of 38, in the first quarter of 2020.
Prospective Home Buyers Anticipate Their Home Search Will be Easier in the Months Ahead
The NAHB latest Housing Trends Report reveals that in the first quarter of 2020, 25% of prospective home buyers indicated that they are expecting their house search will be getting easier in the months ahead.
Mortgage Rates Reach All Time Low
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending April 30th, 2020.
Weekly Jobless Claims Rise Another 3.839 Million for Week Ending April 25th
The U.S. Department of Labor is reporting that an additional 3.839 million Americans made their initial filing for unemployment benefits during the week ending on Saturday April 25th.