The ABC Construction Backlog Indicator declined to 8.3 months in February. Year-over-year, the measure was up 0.2 months.
Wood Markets News
Union Pacific and National Conference of Firemen and Oilers Reach Tentative Agreement
Union Pacific and the National Conference of Firemen and Oilers announced a tentative agreement has been reached and will be sent to NCFO members for ratification.
NAHB Priced-Out Estimates Show Lower Interest Rates Have Improved Housing Affordability
NAHB Priced-Out Estimates show how home price increases and mortgage rates affect housing affordability in 2025.
US National Interagency Fire Center Wildfire Update as of March 21
50 uncontained wildfires are burning in 16 states. On Thursday alone, 15 new large wildfires were reported in the Southern, Rocky Mountain, and Eastern areas.
UK to Plant First National Forest in 30 Years
The Western Forest will see 20 million trees set to be planted across the West of England in the coming decades, creating at least 2,500 hectares of new woodland.
Oregon Forestry Department Sends Firefighters to Help Fight North Carolina Wildfires
ODF reported that it had filled an order to send 26 firefighters and two agency representatives to North Carolina to assist in fighting numerous wildfires in the state.
BC to Support Three Revelstoke Lumber Enterprises to Boost Sustainable Innovation
BC will provide CA$1.23 million to three lumber enterprises to boost sustainable innovation and steer logging away from old-growth sites, Lake Country Calendar reported.
US Remodeling Market Continues to Grow as Homes Age
A new report by the Harvard Joint Center for Housing Studies says the strength of the remodeling market has been supported by aging homes and households, as well as record-high property values.
US Residential Construction Loan Volume Falls in Q4
The total volume of AD&C loans outstanding from FDIC-insured institutions fell 1.02% to $490.7 billion, the third straight quarterly decline, NAHB reported.
China’s Struggling Real Estate Market Moves Closer to Stabilizing
UBS analysts are the latest to raise expectations that China’s struggling real estate market is close to stabilizing, CNBC reported.