US Housing Market: May 2019

Lumber Prices, US House Price Index: 2019
SOURCE: Madison’s Lumber Reporter

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, 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.

Softwood Lumber Movers & Shakers: green and KD Construction Framing Dimension Lumber Prices MAY 2019
SOURCE: Madison’s Lumber Reporter

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.