A deeper dive into the U.S. Census Bureau’s Quarterly Starts and Completions by Purpose and Design reveals a bright spot in the number of single-family homes built-for-rent.
Wood Markets News
Developers and Builders of Multifamily Housing Units Confidence Drop in First Quarter of 2020
According to the NAHB Multifamily Market Survey, as a result of the ongoing COVID-19 pandemic, multifamily builders and developers confidence in their markets softened substantially in the first quarter of 2020.
FEA’s Weekly Order Survey Reports that Sales Remain Slow but Steady
Many dealers are reporting that in spite of a poor U.S. Housing Starts and Permits report for April, their sales remain slow but steady and showing some very small signs of improvement.
Weekly Jobless Claims Rise Another 2.438 Million for Week Ending May 16th
The U.S. Department of Labor is reporting that an additional 2.438 million Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 16th.
China’s Plywood Export Plunge in First Quarter of 2020
China’s plywood exports for first quarter of 2020, when compared to the same period in 2019, suffered a loss of 85% in volume and 82% in value.
Canfor Corporation Announces Permanent Closure of Isle Pierre Mill in 3rd Qtr. of 2020
Canfor Corporation has announced its intention to permanently close their Isle Pierre sawmill sometime in the 3rd Qtr. of this year.
Canadian Inflation Level Moves into Negative Territory – First Time Since 2009
According to Statistics Canada, Canada’s annual inflation rate fell by 0.2% in April, moving into negative territory for the first-time since 2009.
Canadian Home Prices Experience Strong Gains in April
In April, home prices in Canada increased at a greater pace than typical for the month. Led by sales in the metropolitan markets of Ottawa-Gatineau and Toronto areas.
Mortgage Rates Continue to Hold Steady
The Freddie Mac Primary Mortgage Market Survey for the week ending May 21st, 2020 shows that 30-year fixed-mortgage rate averaged 3.24% percent with an average 0.7 point, down from last week when it averaged 3.28%.
Existing Home Sales Tumble 17.8% in April
he National Association of Realtors® is reporting that total existing-home sales declined -17.8% from March, to a seasonally-adjusted annual rate of 4.33 million in April.