Privately‐owned housing starts in July were at a seasonally adjusted annual rate (SAAR) of 1,452,000. This is 3.9% above the revised June estimate of 1,398,000 and 5.9% above the July 2022 rate of 1,371,000.
Wood Markets News
Canadian Housing Starts Decline Month-Over-Month in July
The standalone monthly SAAR of total housing starts for all areas in Canada decreased 10% in July to 254,966 units, the Canada Mortgage and Housing Corporation reported.
Mortgage Applications Decline in the Week Ending August 11th—The Fourth Consecutive Drop
According to the Mortgage Bankers Association, mortgage loan application volume decreased 0.8% on a seasonally adjusted basis from one week earlier. Unadjusted, the index decreased 2.0%.
Single-Family Built-For-Rent Construction Market Cools as Investors React to Tighter Financial Conditions
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions, according to the US Census Bureau and the National Association of Home Builders.
Home Price Gains Reported in 60% of US Metro Areas in Q2
Almost 60% of metro markets—or 128 out of 221—registered home price gains in 2023Q2, according to the latest quarterly report from the National Association of Realtors®.
Domain Timber Advisors Completes Sale of 2,900 Acres of Timberland in Southeast Arkansas
Domain Capital Group and its subsidiary, Domain Timber Advisors, announced the disposition of approximately 2,900 acres of timberland in southeast Arkansas.
Canadian Homes Sales Decline 0.7% Month-Over-Month in July, Canadian Real Estate Association Reports
Home sales recorded over Canadian MLS® Systems posted a 0.7% month-over-month decline in July, according to the Canadian Real Estate Association.
US Builder Sentiment Declines in August
The National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes declined 6 points in August to a reading of 50.
Loan Originations for Commercial/Multifamily Properties Decline 53% Year-Over-Year in Q2
Commercial and multifamily originations were 53% lower in 2023Q2 compared to 2022Q2, according to a survey by the Mortgage Bankers Association.
Canadian Consumer Price Index Continued to Increase in July
StatCan reported that the Consumer Price Index (CPI) grew 3.3% year-over-year in July. The increase in the CPI was mainly attributed to a base-year effect in gasoline prices.