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US House Prices: April 2019

US House Prices: April 2019

Nationally in the US, home price appreciation continued to slow in April. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices Wednesday, rose at a seasonally adjusted annual growth rate of +3.4% in April, following an increase of +3.1% in March. On a year-over-year basis, the Case-Shiller U.S. National Home Price NSA Index rose by +3.5% in April, down from +3.7% in March. It was the lowest annual gain since September 2012. The annual US house price growth…

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US New Home Sales: May 2019

US New Home Sales: May 2019

Contracts for new, single-family home sales in the US declined to a 626,000 seasonally adjusted annual rate in May according to estimates from the joint release of HUD and the Census Bureau Tuesday. This was a surprising drop due to recent softening of mortgage interest rates and continued low unemployment. Recent months’ data have been relatively positive, with the revised March pace of 705,000 being the second highest since the Great Recession. The decline in May is off recent trends. However, for…

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North American Softwood Lumber Prices Continue Dizzying Reversals

North American Softwood Lumber Prices Continue Dizzying Reversals

The sheer plummet, then flat-line, of North American construction framing softwood lumber prices for most of this year continued last week the massive reversal of the previous week. Wholesaler prices of benchmark dimension softwood lumber commodity Western Spruce-Pine-Fir KD 2×4 #2&Btr (RL) (net FOB sawmill) last week corrected up somewhat further. The ability of Eastern Spruce-Pine-Fir suppliers to raise their prices significantly confirms the upward price movement of lumber commodities in the past two weeks.Confusion reigns still, however Tuesday lumber…

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US Existing Home Sales: May 2019

US Existing Home Sales: May 2019

Boosted by lower mortgage rates, existing home sales, released by the National Association of Realtors (NAR), rebounded in May. This is the first gain in two months. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, climbed 2.5% to a seasonally adjusted annual rate of 5.34 million in May. On a year-over-year basis, sales were 1.1% lower than a year ago. Sales have declined on an annualized basis for more than a year. The first-time buyer share remained unchanged…

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US Lumber Imports & Exports vs Softwood Lumber Prices: April 2019

US Lumber Imports & Exports vs Softwood Lumber Prices: April 2019

US lumber imports from the world crashed in April, down -22% from March, said US Census Bureau in the latest data release Tuesday. US lumber imports from Canada are down almost -25%. US lumber imports from China are down only -5% in April 2019 compared to March. US exports of softwood lumber for April 2019 are down -22, said US Census in the latest data release Tuesday. US lumber exports to all countries dropped drastically, except to China where it…

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Canada Lumber Manufacturing & Sales, Exports vs Softwood Lumber Prices: April 2019

Canada Lumber Manufacturing & Sales, Exports vs Softwood Lumber Prices: April 2019

Lumber production in Canada increased by +18.7% from February to 5,528.3 thousand cubic metres in March, said Statistics Canada in the latest data release June 5. Production was -5.3% lower than in March 2018. Sawmills shipped 5,145.1 thousand cubic metres of lumber in March, up +15.7% from February and -2.1% lower than in March 2018. Canada exported -13% less lumber to the world in March 2019 compared to February, said Statistics Canada Tuesday. Lumber exports to the US were down…

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US Housing Starts: May 2019

US Housing Starts: May 2019

Total housing starts in the US posted a -0.9% decrease in May, to 1.269 million units, compared to an upwardly revised April estimate of 1.281 million units, according to the joint data release Tuesday from the US Census Bureau and HUD.Relative to May 2018, total starts are -4.7% below the annual pace of 1.332 million units.  Single-family production in May posted a monthly decline, decreasing -6.4% to a seasonally adjusted annual rate of 820,000. Single-family starts in April were revised up…

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Softwood Lumber Sales Explode on More Major Sawmill Curtailments

Softwood Lumber Sales Explode on More Major Sawmill Curtailments

After inexplicably wallowing in the doldrums for 2019 so far, North America wholesaler softwood dimension lumber prices reversed spectacularly last week. US housing starts for May, released Tuesday morning, were relatively stable compared to April. Potentially helpful to players seeking understanding of current market conditions, prices quoted for the July contract of softwood lumber futures on the Chicago Merchantile Exchange crested over US$400 mfbm on Tuesday. Currently futures are at a $25 premium to cash (print) prices.Benchmark North American construction…

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WSPF KD #2&Btr 2×4 price leaps 20% to US$376 mfbm

WSPF KD #2&Btr 2×4 price leaps 20% to US$376 mfbm

Several benchmark North American construction framing softwood lumber prices rebound spectacularly … Key Comment : Sales of Western Spruce-Pine-Fir exploded following a Canfor announcement of sweeping curtailments across many multiple production facilities. https://madisonsreport.com/lumber-prices/ Madison’s Lumber Prices Weekly Market Commentary Snippet Western SPF: USA Recrudesce Following Canfor’s major curtailment announcement Monday, sales of Western Spruce-Pine-Fir “exploded” as this week wore on. While suppliers did spend some time early in the week clearing out older inventory, asking prices were up significantly and…

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