Softwood Lumber Prices vs US House Price Index: 2019
In the US, a nationwide housing shortage has eased somewhat, said USA Today May 22. Home price gains have moderated. And bidding wars are no longer commonplace.
Thirty-eight percent of US home buyers topped their spending limits, up from 32% a year ago, according to the March survey Owners.com, a real estate brokerage, of 1,800 home buyers who made a purchase within the past four years. And they busted their budgets by an average US$20,000, up from US$16,510 in the early 2018 survey.
There were 1.83 million existing home listings in April. And while that total is up from 1.67 million a year earlier, it remains below a normal level, according to the National Association of Realtors.
Benchmark North American Construction Framing Dimension Softwood Lumber Wholesaler (Net FOB sawmill) Prices This Week (May 27, 2019)
The median sales price was US$267,300, +3.6% higher than in April 2018. Although that price is still rising, it’s less than the 5% to 6% annual price gains a year earlier. Meanwhile, Americans’ average pay increases have accelerated above 3%, seemingly easing the financial strain.
The US housing market is at one of its strongest points in decades – and US vacancy rates reflect that strength. Nationwide, just 1.52% of single-owner homes and condos are vacant, one of the lowest points in years. The last time vacancy rates were so low was the 1990s. — IndyStar
As many as 12.1 million homeowners plan to sell their primary residence within 18 months, according to a new survey of 1,400 homeowners from personal-finance website NerdWallet, said MarketWatch May 16. Some 44% of those who said that they plan to sell in the next 18 months said recent shifts in the housing market have made them consider selling sooner than they originally planned.