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Softwood Lumber Sales Tepid as Prices Fall Further

Softwood Lumber Sales Tepid as Prices Fall Further

North American softwood lumber traders on both sides of the border described sales as sloppy and “uninspiring.” Lumber demand at the wholesaler level in Canada and the US last week was lackadaisical at best and disinterested at worst. While home construction and sales activity in the US is slowly improving, there has been no increase in demand since the large sales volumes of one year ago. Operators in Canada have made more inroads to selling lumber products into new and…

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Madison’s “Movers & Shakers” Softwood Lumber Prices Historical Comparison

Madison’s “Movers & Shakers” Softwood Lumber Prices Historical Comparison

Madison’s weekly “Movers & Shakers” softwood lumber prices historical comparison table uploaded for this week: Lackadaisical activity persisted as the Eastern Canadian construction holiday began. — Madison’s Lumber Reporter Western SPF: USA Uninspiring According to Western Spruce-Pine-Fir purveyors in the United States, last week was another example of the sloppy market that has developed over the month of July. Consumer confidence remained low and customers weren’t interested in buying any further out than one or two weeks, which also happened…

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*Sneak Peak* Preview: BC Coast Log Prices

*Sneak Peak* Preview: BC Coast Log Prices

Total corroboration from Japan of the BC coast log prices Madison’s has been printing. Some insights into the North American log sales market are provided in the latest issue of Japan Lumber Reports: “Export prices of Douglas fir logs for July shipment are $20 down on 12” and up logs, while 8-11” log prices remain unchanged. North America lumber market is rebounding but log market does not reflect any movement so North America log export continues buyers’ market. Japan domestic…

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US Federally-Backed Mortgages, HomeOwnership Rate: 2Q 2019

US Federally-Backed Mortgages, HomeOwnership Rate: 2Q 2019

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the US Census Bureau reveals that mortgages backed by the FHA made up 17.9%, or 32,000, of total sales, at 179,000 units, +7.3 percentage points higher than 2Q 2018 (20,000). The FHA share is the highest it has been since the first quarter of 2013. Conventional loans accounted for 69.3% of new home sales in 2Q 2019, a +0.7 percentage point increase from 1Q 2019. Cash purchases accounted…

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US New Home Sales: June 2019

US New Home Sales: June 2019

Contracts for new, single-family home sales in the US increased in June by +7% to a 646,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau Thursday. The increase came off a downwardly revised May estimate, which was decreased from an initial reading of 626,000 to a new estimate of 604,000. Year-over-year, the June estimate is +4.5% higher compared to June 2018. The June estimate is another reminder that builders must manage costs as affordability concerns rise….

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Lumber Traders Abandon Offices for Summer Holidays as Prices Slip Further Downward

Lumber Traders Abandon Offices for Summer Holidays as Prices Slip Further Downward

An incomprehensible North American construction framing dimension softwood lumber market became no more understandable this week as prices on several key commodities fell further. As Quebec enters it’s usual two-week sawmill and construction curtailment and true summer weather arrived across the continent, lumber traders abandoned sales offices for local fishing holes and other outdoor activities.One must congratulate the major sawmills in the Pacific Northwest for such quick response to badly softening prices. Without some serious reductions in supply, prices could…

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Madison’s Monthly Wood Pellet Update Now on Canadian Biomass Website

Madison’s Monthly Wood Pellet Update Now on Canadian Biomass Website

In addition to Madison’s weekly #lumber price update on the Canadian #Forest Industries website:https://www.woodbusiness.ca/traders-abandon-offices-for-summer-holidays-as-lumber-prices-slip-further-downward/ Madison’s is now also providing monthly wood pellet price updates to Canadian Biomass Magazine news: https://www.canadianbiomassmagazine.ca/woody-biomass-consumption-on-downward-trend-in-us-eia/

US Existing Home Sales: June 2019

US Existing Home Sales: June 2019

The June median sales price of all existing US homes reached a record high of US$285,700, up +4.3% from a year ago, representing the 88th consecutive month of year-over-year increases. The median existing condominium/co-op price of US$260,100 in June was up +2.8% from a year ago. Total existing home sales in the US, released by the National Association of Realtors (NAR) Tuesday, fell more than expected in June. Total sales dropped -1.7% to a seasonally adjusted annual rate of 5.27 million…

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US Apartment Absorption Rate: 4Q 2018

US Apartment Absorption Rate: 4Q 2018

In 4Q 2018, the building of 56,950 apartment units in the US was completed, an -18% decline from 4Q 2017, when it was 69,640 units. (Figure 1 below). Apartment completions in 4Q 2018 were at their lowest point since 4Q 2013. These data come from the US Census Bureau, in collaboration with the US Department of Housing and Urban Development, under the Survey of Market Absorption (SOMA). The SOMA contains data on completions of nonsubsidized, privately financed apartments in buildings…

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US Housing Starts: June 2019

US Housing Starts: June 2019

According to estimates from the US Housing and Urban Development and Commerce Department Wednesday, single-family housing starts in the US improved in June, consistent with the recent stabilization of the NAHB/Wells Fargo Housing Market Index (HMI). Single-family starts increased 3.5% to a 847,000 seasonally adjusted annual pace in June. Privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,253,000. This is -0.9% below the revised May estimate of 1,265,000, but is +6.2% above the June 2018 rate…

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