Wood Markets News

Washington State Eases Restriction on Construction with New Guidelines

April 29, 2020 · COVID-19 End Use

With new guidelines now in place, Gov. Jay Inslee announced the State of Washington has started to ease some restrictions that were put into place to slow the spread of the COVID-19 virus.

Mortgage Loans in Forbearance Increases to 6.99% in Week Ending April 19th 2020

April 29, 2020 · COVID-19 End Use

The Mortgage Bankers Association (MBA) latest Forbearance and Call Volume Survey reports that the total number of loans now in forbearance increased from 5.95% of servicer’s portfolio volume in the prior week to 6.99% as of April 19th, 2020.

Mortgage Applications Decline in Week Ending April 24th, 2020

April 29, 2020 · End Use

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending April 24th, 2020, the Market Composite Index decreased -3.3% on a seasonally adjusted basis from one week earlier.

Homeownership Rates Move Higher in 1st Quarter of 2020

April 28, 2020 · End Use

The U.S. Census Bureau’s Housing Vacancy Survey is reporting that U.S. homeownership rates reached 65.3% in the first quarter of 2020.

Consumer Confidence Declines Further in April

April 28, 2020 · COVID-19 End Use

According to the Conference Board, the Consumer Confidence Index, declined further in April, following a steep decline in March.

Home Prices Gained 4.2% in Annually in February per Case-Shiller

April 28, 2020 · COVID-19 End Use

According to the S&P CoreLogic Case-Shiller Home Price Indices, February home prices nationally were 4.2% higher annually, up from a 3.9% gain in January.

Home Builders are Experiencing a Jump in New Home Sales

April 28, 2020 · COVID-19 End Use

In the first four weeks of the national shutdown in response to the COVID-19 pandemic, sales of newly built homes fell ~85% from normal spring activity.