Housing Slump Makes For Buyer's Market

CBS Evening News: With Prices And Mortgage Rates Declining, More People Are Shopping For, If Not Buying, Homes

DJ CME Lumber Review: Ends Mostly Higher In Light Rolling

The nearby January contract settled down $1.70 per 1,000 board feet at $172.50, while March ended up $4.30, or 2.31%, at $190.70.

Focus on Philly: Majority Say It’s a Good Time to Buy in Survey

66 percent of respondents said that it’s a good time to buy a home in the Greater Philadelphia market.

DJ CME Lumber Review: Ends Quiet Session Mixed

The nearby January contract settled up $1.00 per 1,000 board feet at $175.50, while March ended down $0.40 at $191.50. May closed $2.00 higher at $204.50.

FEDERAL HOUSING FINANCE AGENCY News Release

U.S. MONTHLY HOUSE PRICE INDEX ESTIMATES 1.1 PERCENT PRICE DECLINE FROM SEPTEMBER TO OCTOBER

Sales of New Houses in U.S. Dropped to 17-Year Low in November

Purchases dropped 2.9 percent to an annual pace of 407,000, lower than forecast...

Existing-Home Sales and Prices Overview

November 2008 sales rates, actual totals and median prices by month going back 12 months.

Home prices plunge as sales slow sharply

Median price for existing homes falls record 13% to $181,000

U.S. Preview: No End in Sight for New and Existing Home Sales Declines

The ongoing turmoil in credit markets and record low builder confidence have economists forecasting a continued slide for both new and existing home sales in the U.S.

White House Fires Back at Times Over Housing Meltdown Story

The New York Times, in a lengthy weekend article, places much of the blame for the sub-prime mortgage mess and Wall Street collapse on the Bush administration.

DJ CME Lumber Review: Prices Higher In Light, Speculative Buying

Chicago Mercantile Exchange lumber futures prices ended higher Monday but off the three-week highs they set near the open amid light, speculative buying.

Building materials distributor 84 Lumber shutters more stores, plants

Building materials distributor 84 Lumber Inc. shuttered seven facilities in Ohio, Indiana, Florida, Alabama, Wisconsin and Tennessee in its latest move to weather the construction slump

KB Home leaving metro Atlanta market

Metro Atlanta’s seventh-largest home builder is pulling out of the market.

Homebuilder sentiment remains at record low

Job losses, foreclosures discourage prospects of a housing turnaround

Prediction: Housing market to recover in 2009

“In 2009, housing will not only recover, but we’ll see buyers leap into this market in droves, depleting our housing oversupply, and actually putting higher price pressures on the market.”

Wells Fargo CEO says housing may be bottoming

Wells Fargo & Co Chief Executive John Stumpf said on Wednesday the U.S. housing market may be bottoming

Housing sector shows improvement in October

Despite mounting job losses and a consistently weakening economy, the housing sector fared slightly better than expected in October.

Foreclosure relief unlikely until Obama in office

With job losses mounting and lawmakers preparing to funnel money to Detroit automakers, a top House Democrat said Monday that a new government effort to help borrowers avoid foreclosure will have to wait until after President-elect Barack Obama takes office.

Five thousand coastal forest workers face winter layoffs

Permanent mill closures and job losses inevitable in the battered sector, forestry consultant warns

Pending Sales of Existing Homes in U.S. Fell 0.7% (Bloomberg)

Fewer Americans signed contracts to buy previously owned homes in October as credit markets seized, signaling the housing slump will extend into a fourth year.

Pending Home Sales Index

Pending Home Sales Index Overview

DJ CME Lumber Review: Higher; Off Highs As Demand Fades

...lumber futures prices closed higher but off the day's highs Monday as buying interest ran out in a slow session.

Construction spending outlook worsens

Construction spending dropped 1.2% in October and will drop as much or more in November since contractors laid off 82,000 workers in November and reduced the average workweek by almost half an hour.

DJ CME Lumber Review: Ends Mixed After Setting New Lows

The nearby January contract ended unchanged at $178.90, while March settled $0.10 higher, at $189.70.

U.S. Treasury says eyeing several housing programs

Lowering U.S. mortgage rates through a program relying on Fannie Mae and Freddie Mac is just one of several options the U.S. Treasury is considering to support housing

DJ CME Lumber Review: Ends Lower After Quiet, Aimless Session

The nearby January contract fell $1.60 per 1,000 board feet to close at $184.00, while March settled $3.40, or 1.71%, lower, at $195.60.

U.S. MBA’s Mortgage Applications More Than Doubled Last Week

Mortgage applications in the U.S. surged by a record last week as lending rates plunged after the Federal Reserve pledged to buy mortgage-backed debt.

Construction spending fell again in October

U.S. construction spending continued to fall in October, signaling more weakness in the housing market and the economy as a whole.

Distributors shutter branches, lay off workers as downturn deepens

Even before the financial crisis struck in September, the ongoing slump in the residential housing market wrought havoc on construction-related businesses.

Manufacturing, housing continue to sag

construction spending fell 1.2% in October, outpacing the 0.3% decline in September.

Lumber markets look overseas

With the housing market in a cool-down mode due to the recent economic downturn, homebuilders are buying fewer materials

CME Lumber Review: Sharply Lower On Weak Stocks, Cash

CME lumber futures closed sharply lower Monday as steep declines in the Dow Jones Industrial Average added to pressure from a nearly lifeless cash market.

Arkansas sawmills slow with housing decline

Like their counterparts elsewhere, Arkansas sawmills are struggling to survive