US House Prices vs. Softwood Lumber Prices: December 2019

VANCOUVER, Dec. 13, 2019 /CNW/ -

US house prices rose in 3Q 2019, up +1.1 per cent according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), released November 26. House prices in the US rose +4.9 per cent from 3Q 2018 to 3Q 2019. FHFA's seasonally adjusted monthly index for September was up +0.6 per cent from August.

"According to the latest home price forecast from property data firm CoreLogic, US home prices should tick up by +5.6 per cent by next September—up from the +3.5% jump of this year."

The Case Shiller Home Price Index in the US reached an all-time high of 218.27 Index Points in September of 2019.

US house price appreciation inched up slightly in September with year-ago growth in the 20-city composite index rising to 2.1%, up from 2% in August, said the latest Case Shiller indices from Moody's Analytics. In addition, year-ago growth in the 10-city composite index held steady at 1.5%. Further, growth in the national house price index increased to 3.2% from 3.1% in the previous month.

"Inventories are tight: You can't buy what's not for sale, say seasoned realtors."

STAY AHEAD of US housing price data by getting access to softwood lumber prices. Released every Friday for that week, since 1952 Madison's Lumber Prices is used by the forest products industry as a price guide for North American construction framing dimension softwood lumber. These are, of course, the inputs into US and Canadian home building materials.

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SOURCE Madison's Lumber Reporter