The initial drop in real estate showing activity experienced throughout much of the U.S. in the early weeks of the COVID-19 pandemic has given way to signs of modestly stabilizing.
Wood Markets News
Housing Starts and Permits Tumble in April
The U.S. Census Bureau has reported that Privately-owned housing starts in April were at a seasonally adjusted annual rate of 891,000.
Builders Confidence Bounces Back in May from April’s Historic Decline
According to the latest NAHB/Wells Fargo Housing Market Index (HMI) for May, builders confidence in the market for newly built single-family homes increased to 7 points to a reading of 37.
Retail Sales Decline 16.4% in April
With many consumers sheltering in place last month and only leaving their homes only to purchase essential goods and services, retail sales declined 16.4% in April.
U.S. Homeownership Rate Hits Highest Level Since 2012
Americans view homeownership as something of great value. And the COVID-19 pandemic, and the need for many Americans to shelter in place, has helped that feeling to grow even stronger.
Canadian Home Sales and Listings Record Decline in April
Canadian home sales and national home listings fell 56.8% in April, when compared to the previous month.
A Closer Look at Building Permits in March 2020
A deeper dive into housing permits for March 2020, and the first quarter of 2020, reveals a robust start of the year for permits.
2020 Wildfire Season Plan – More Aircraft, Fewer Crews
Authorities are changing their strategies for fighting wildfires to reduce manpower requirements and limit crews to the COVID-19 virus.
Layoffs in the Construction Sector Soar in March
According to the BLS, there were 618,000 layoffs in the construction sector during March 2020.
Mortgage Delinquencies Grow in First Quarter of 2020
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.36% of all loans outstanding at the end of the first quarter of 2020.