The Wall Street Journal: Lumber prices have shot to fresh records, defying the normal winter slowdown in wood-product sales in a sign that the pandemic building boom is bowling into 2021.
From NAHB: It is with deep regret we announce that the technology issues pertaining to the IBSx exhibitor platform could not be resolved. The situation evolved rapidly and rectifying these challenges proved more complex than anticipated. As a result, the show floor featuring IBSx exhibitor booths will not be moving forward as planned this week, but will be postponed to a later date. We are investigating alternative solutions to allow the exhibit experience and virtual booths to open in the near future.
Due to ongoing technical issues with the KBIS Virtual and IBSx platform, access to all exhibitor booths within the IBSx Expo Hall is inaccessible. NAHB is investigating alternative solutions that may allow the Expo Hall to open in the future.
IBSx show programming including the General Sessions, Gamechangers, the Sales Rally, the Demo Zones and Shop Talks will continue as scheduled, February 10-12, 2021.
Be sure to look for updated links to participate in planned IBSx education programming.
NAHB - Builder confidence in the single-family 55+ housing market remained high in the fourth quarter, inching down one point from an all-time high to 82, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released today.
There are two 55+ HMIs measuring distinct segments of the 55+ housing market: single-family homes and multifamily condominiums. Each 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic).
NAHB - In the wake of the COVID-19 pandemic, more Americans are interested in purchasing homes, according to NAHB’s latest Housing Trends Report.
The share of Americans who are considering the purchase of a home in the next 12 months was 15% in the fourth quarter of 2020, four percentage points higher than a year earlier and the largest year-over-year gain in the three-year history of this series. The gain shows the coronavirus outbreak continues to impact Americans’ propensity to want to buy homes.
NAHB Now - The Centers for Disease Control and Prevention has announced it is extending the current order temporarily halting residential evictions until at least March 31, 2021.
In a press release announcing the action, CDC Director Rochelle Walensky said: “As a protective public health measure, I will extend the current order temporarily halting residential evictions until at least March 31, 2021. The COVID-19 pandemic has presented a historic threat to our nation’s health. It has also triggered a housing affordability crisis that disproportionately affects some communities.
The Washington Post | Kathy Orton - A bright spot in an otherwise dreary 2020 was the residential real estate market. After briefly retrenching at the beginning of the pandemic, home sales soared. A lack of homes on the market and low mortgage rates caused prices to skyrocket. Rising prices lifted home values, creating more wealth for homeowners.
But not everything was rosy. As of this month, 5.2 percent of mortgages, or 2.7 million, are in forbearance, according to Black Knight, a mortgage data and technology company. That represents $547 billion in unpaid principal.
HBS Dealer - Housing starts wrapped up 2020 with another show of strength.
Privately-owned housing starts increased 5.8% to 1.669 million in December 2020 above the revised November estimate of 1.578 million, according to the latest Monthly Residential Construction report released this morning by the Census Bureau and Department of Housing and Urban Development.
The latest report also places December housing starts 5.2% above the December 2019 rate of 1.587 million.
HBSDealer Staff - While remodeling spending is expected to rise in 2021, growth will not be as strong compared to the prior year.
Annual gains in spending for improvements and repairs to owner-occupied homes are expected to be modestly higher in 2021 compared to last year, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies (JCHS) of Harvard University.
HBSDealer Staff - The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 79 in the fourth quarter of 2020.
While the reading marks a three-point drop from a level of 82 in the third quarter, the NAHB said that the latest reading indicates remodelers’ confidence in their markets for projects of all sizes despite the ongoing negative impacts of the coronavirus pandemic.