Homebuilders

U.S. lumber prices, which already have risen in recent months due to lower production in Canada, could see further gains after President-elect Donald Trump's proposed tariffs on trade from north of the border.

"If he manages to get through the policies that he's proposing, that will be really bad news," says Desmond Lachman, an economist at the conservative American Enterprise Institute.

Developers "need those cuts badly" because many projects are financed at floating rates, Jorge Perez, founder and chief executive officer of Related Group, said in an interview on Bloomberg Television.

Housing starts decreased 3.1% last month to a 1.31 million annualized rate, reflecting a steep decline in the South, according to government data released Tuesday.

Confidence among U.S. homebuilders advanced to a seven-month high in November on a jump in sales expectations and optimism a Trump administration will ease regulatory burdens.

Residential construction companies facing their own construction cost burdens are continuing sales incentives that have cut into some of the largest players' profit margins.

The National Association of Homebuilder's chief economist lays out a timeline for the market, and describes how new construction today compares to existing home sales.

The joint venture with Smith Douglas Homes will expand Loandepot's market presence in states including Georgia, Alabama and Texas.