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Lumber Prices and US Home Building & Sales Data

Lumber Prices and US Home Building & Sales Data

See for yourself the amazing correlation between select US home building and sales data when compared to Canadian and US lumber prices over the past ten years. Below are various graphs comparing this very important data 2007 to present. The numbers don’t lie; the data speaks for itself.

US New Home Sales Up +17%: Nov 2018

US New Home Sales Up +17%: Nov 2018

Sales of new homes in the United States soared in November, defying higher mortgage rates. The US Commerce Department said Thursday that new-home sales jumped +17% in November from the previous month. The November 2018 figure remained -7.7% below the November 2017 rate.

US Pending Home Sales: Dec 2018

US Pending Home Sales: Dec 2018

Contracts to buy previously owned homes in the US fell in December, the National Association of Realtors (NAR) said Wednesday, in another sign of weakness in the housing market.The NAR’s pending home sales index decreased to a reading of 99.0, down -2.2% from the prior month. November’s index was revised to 101.2 from 101.4.US existing home sales tumbled to their lowest level in three years in December and house price increases slowed sharply. Compared to one year ago, pending sales…

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US Home Price Appreciation Unchanged: Nov 2018

US Home Price Appreciation Unchanged: Nov 2018

In November, national home prices in the US rose at the same annual growth rate as in October. Two metro areas in California, including San Francisco and San Diego, as well as Seattle, WA, experienced home price declines in November, while home prices in Los Angeles, CA, were unchanged. The Case-Shiller US National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 5.1% in November, unchanged from the previous month. On…

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Flurry of Latest Data Spells Higher Home Prices, Fewer Sales: USA Full-Year 2018

Flurry of Latest Data Spells Higher Home Prices, Fewer Sales: USA Full-Year 2018

Home sales in the US slumped in December 2018, while prices inched up slightly, marking the smallest annual increase since the end of the last housing crash in 2012, according to data from brokerage Redfin Tuesday, said Bloomberg.The median home price rose to US$289,800 in December, a gain of +1.2%, the slowest monthly pace since March 2012. Sales dropped by almost -11%, the biggest decline for any month since 2016, Redfin said. Previously hot metropolitan areas are cooling fast. Prices…

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Softwood Lumber Futures At a $45 Premium to Cash Prices: Jan 2019

Softwood Lumber Futures At a $45 Premium to Cash Prices: Jan 2019

For the other large volume-traded softwood lumber commodity, this week’s Southern Yellow Pine East Side 2×4 #2&Btr KD prices are down $126 (-24.85%) relative to the 1-year rolling average price of US$507 and down $99 (-20.63%) relative to the 2-year rolling average price of US$480 mfbm Canadian and US construction framing dimension softwood lumber wholesaler prices waffled last week as the supply-demand balance was very level at both suppliers and customers. The wood that was traded once again was for…

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Softwood Lumber Futures At a $45 Premium to Cash Prices: Jan 2019

Softwood Lumber Futures At a $45 Premium to Cash Prices: Jan 2019

Wholesaler prices of benchmark dimension softwood lumber commodity Western Spruce-Pine-Fir KD 2×4 #2&Btr continued improvements over the previous week, after bottoming-out to astonishing lows in 2018, to close last week at US$346 mfbm, a $8 or +2.3% pop from the week before. Trading for the May contract on the Chicago Mercantile Exchange was at the US$390-level, a full $45 premium on cash prices. At writing Monday afternoon, after-hours trading of lumber futures were up-limit over Friday, at US$391 on the…

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Canada’s Two Major Railways Well-Poised for Further Increased Traffic 2019

Canada’s Two Major Railways Well-Poised for Further Increased Traffic 2019

Last week, the Canadian Transportation Agency flexed its newly enhanced authority under the 2018 Transportation Modernization Act and launched an investigation into whether rail companies are fulfilling their obligations following industry complaints, with hearings set for next week.In an email to Globe and Mail, Canadian National Railway acknowledged the recent congestion on the West Coast. It pointed to harsh weather and the intricate supply network that feeds into Canada’s busiest port. For the railways that serve Canada’s busiest port, Canadian…

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Vancouver Port, St. Lawrence Seaway Plan Expansions After Volumes Increase

Vancouver Port, St. Lawrence Seaway Plan Expansions After Volumes Increase

The DP World facility, situated near Vancouver in British Columbia, Canada, is one of three container terminals at the Port of Vancouver, accounting for 20% of its total freight movement, according to Port Technology Monday.In order to increase its annual container handling capacity from 900,000 TEU to 1.5 million, a project has been launched to reconfigure and extend the terminal’s surface. READ MORE: https://www.porttechnology.org/news/port_of_vancouver_agrees_large_scale_extensionTotal funding for the extension has now risen to US$300.9 million, and is expected to be completed…

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Canadian Railways Ration Space as Congestion Problems Worsen

Canadian Railways Ration Space as Congestion Problems Worsen

Canada’s two major railways are rationing space on trains travelling to the country’s biggest port and recently prioritized some commodities over others to deal with congestion, the latest indication of their struggle to meet demand from new trade deals, said the Financial Post via Reuters Monday.That move prompted Canada’s transport regulator last week to start an investigation into rail services around Port Metro Vancouver, after shippers complained of “discriminatory treatment of certain commodities” by Canadian National Railway (CN) and Canadian…

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