Data at your fingertips.
Focused. Unbiased. Independent. Dependable. Respected. Current.
Shop our Products & Services
Other Industry News > Housing
Do you have information that should appear in Daily WoodWire? Send it to Joe Heitz, WoodWire editor, by fax at 1-800-874-7979, or e-mail to email@example.com
2015 Canadian housing starts expected to flatline
Canadian housing starts are expected to remain similar to levels observed in 2014 and in line with economic and demographic trends, according to a new report from Canada Mortgage and Housing Corp. By 2016, some moderation is expected. For more, click here...
Mortgage rates rebound, remain below 4%
Thirty-year fixed-rate mortgages (FRMs) averaged 3.98% for the week ending October 30, up from last week's average of 3.92%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.10%. The 15-year FRM averaged 3.13% this week, up from last week's average of 3.08%. A year ago at this time, the 15-year FRM averaged 3.20%. One-year adjustable-rate mortgages (ARMs) averaged 2.43% this week, up from last week's average of 2.41%. At this time last year, the one-year ARM averaged 2.51%. For more, click here...
Mortgage applications decline
Mortgage applications decreased 6.6% from a week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending October 24. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.6% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the index decreased 7% compared with the previous week. The refinance component of the index decreased 7% from the previous week. The seasonally adjusted purchase component of the index declined 5% from a week earlier. For more, click here...
Pending home sales edge upward in September
Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, inched up 0.3% to 105.0 in September from 104.7 in August, and is now 1.0% higher than September 2013 (104.0). The index is above 100 for the fifth consecutive month and is at the second-highest level since last September. For more, click here...
September new home sales at 6-year high
U.S. sales of new, single-family houses were at a seasonally adjusted annual rate of 467,000 units in September, 0.2% higher than the revised August rate and 17.0% above the September 2013 estimate, according to the Census Bureau and the Department of Housing and Urban Development. The median sales price of new houses sold in September was $259,000. An estimated 207,000 new houses were for sale at the end of September. This represents a supply of 5.3 months at the current sales rate. For more, click here... or click here...
NAHB remodeling index climbs
The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading above 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. "Most remodelers remain confident that the market is improving as home owners undertake renovations, large and small," said NAHB Remodelers Chair Paul Sullivan, CAPS, CGR, CGP, of Waterville Valley, N.H. "The consistency and longevity of positive RMI readings are in line with the gradual recovery of the housing industry."
Existing-home sales post September rebound
After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors. All major regions except for the Midwest experienced gains in September. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums, and co-ops, increased 2.4% to a seasonally adjusted annual rate of 5.17 million units in September. Sales are now at their highest pace of 2014, but still remain 1.7% below the 5.26 million-unit level from last September. The median existing-home price for all housing types in September was $209,700, which is 5.6% higher than the September 2013 average. Total housing inventory at the end of September fell 1.3% to 2.30 million existing homes for sale, representing a 5.3-month supply at the current sales pace. For more, click here...
September housing starts up 6.3%
U.S. housing starts were at a seasonally adjusted annual rate of 1.017 million units in September, 6.3% higher than the revised August estimate and 17.8% above the September 2013 rate, according to the Census Bureau and the Department of Housing and Urban Development. Single-family starts were at a SAAR of 646,000 units, 1.1% above the revised August figure. Housing units authorized by building permits were at a SAAR of 1.018 million units in September, 1.5% above the revised August rate and 2.5% above the September 2013 estimate. For more, click here...
Four-month upturn ends as builder confidence falls in October
After four consecutive monthly gains, builder confidence in the market for newly built, single-family homes fell 5 points to a level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index. "We are seeing a return to the mid-50s index level trend established earlier in the summer, which is in line with the gradual pace of the housing recovery," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "While there was a dip this month, builders are still positive about the housing market." For more, click here...
Canada's New Housing Price Index posts gain
Canada's New Housing Price Index rose 0.3% in August, following no change in July, according to Statistics Canada. The increase was the largest since January, and mainly the result of strong gains in Ontario and Alberta. For more, click here...
Restrictive lending standards still affecting home sales-- NAHB
Tight mortgage lending standards continue to affect sales for single-family builders across the nation, according to a survey released by the National Association of Home Builders. Well over half of the single-family builders surveyed indicated that lending standards were "tight" or "very tight," while only 11% indicated that standards were "somewhat easy," and no builders described them as "very easy." For more, click here...
September housing starts in Canada trend upward
The trend measure of housing starts in Canada was 197,747 units in September, compared to 191,095 in August, according to Canada Mortgage and Housing Corp. The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts. "The increase in the trend reflects stronger starts activity since April, largely concentrated in multi-unit dwellings, including condominiums," said Bob Dugan, CMHC's chief economist. The stand-alone monthly SAAR was 197,343 units in September, up modestly from 196,283 in August. For more, click here...
Canadian building permits plunge
The value of building permits issued by Canadian municipalities fell 27.3% to $C6.7 billion in August, following three months of double-digit increases, according to Statistics Canada. The August decline was mainly attributable to lower construction intentions for non-residential buildings in Quebec, and residential buildings in Ontario. After five consecutive monthly advances, the value of permits in the residential sector declined 15.9% in August to $C4.2 billion. For more, click here...
Select a Month