According to the ESR Group, the increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024.
Wood Markets News
West Fraser and Woodland Cree First Nation Sign Good Relations Agreement
West Fraser and the Woodland Cree First Nation recently signed a Good Relations Agreement to mark a new era of partnership.
Mortgage Applications for New Home Purchases Expand in February
Mortgage applications for new home purchases increased 1.0% month-over-month and 15.7% year-over-year in February, the MBA reported.
British Columbia to Expand the Use of Wildfire Predictive Technology
In advance of the 2024 wildfire season, BC is introducing technology that can produce real-time wildfire behavior predictions.
Increases in the Canadian Consumer Price Index Continue to Moderate in February
The Canadian Consumer Price Index (CPI) increased 2.8% year-over-year in February, down marginally from a 2.9% gain in January.
US Existing-Home Listings Expand in February, Posting Largest Year-Over-Year Gain Since May 2021
New listing of existing homes increased 3.8% month-over-month on a seasonally adjusted basis in February, Redfin reported.
Investment in Canadian Building Construction Declines in January
Investment in building construction declined 0.9% to $19.7 billion (CAD) in January, with the residential component 1.4% lower at $13.6 billion.
US Builder Confidence Climbs Above Breakeven in March
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 3 points to a reading of 51 in March.
Canadian Industrial Product and Raw Materials Price Indexes Post Month-Over-Month Gains in February
The price of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI) increased 0.7% on a monthly basis in February.
Canadian Existing-Home Sales Decline 3.1% Month-Over-Month in February
Home sales recorded over Canadian MLS® Systems posted a 3.1% decline between January and February, CREA reported.