Following a four-point uptick last month, builder confidence in the market for newly built single-family homes fell one point in December to a level of 57 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. (December 15, 2014)
The trend measure of housing starts in Canada was 195,707 units in October compared to 197,763 in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Source: Southern Forest Products Association By Richard Wallace Exports of Southern Pine lumber to China are soaring, thanks to promotional efforts funded by the USDA’s Market Access Program (MAP).
Southern Pine lumber exports to China are expected to reach $54 million this year, a ten-fold increase since the U.S. wood products industry began promoting this species, grown in the southeastern United States. Meanwhile, Chinese demand for pressure-treated Southern Pine lumber, a key value-added item produced in the U.S., is forecasted to reach $15 million this year, an all-time sales record and 245% above levels five years ago. Source: NAHB A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in yesterday’s National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.
Markets in 59 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released today.
According to CMHC’s fourth quarter 2014 Housing Market Outlook, Canada Edition, housing starts in 2015 will remain similar to levels observed in 2014 and in line with economic and demographic trends. By 2016, some moderation is expected.
The National Association of the Remodeling Industry’s (NARI) third-quarter Remodeling Business Pulse (RBP) data of current and future remodeling business conditions indicated strong growth in the third quarter of 2014 with a rating of 6.41. Quarter-over-quarter increases are evident in all sub-components measuring remodeling activity. This is the second quarter of growth in 2014, coming on top of June’s strong increase over the 6.07 recorded in March.
Sales of newly built, single-family homes inched up 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units, the highest level in six years, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales numbers for August were revised down from 504,000 to 466,000.
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.
For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.
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