Building material prices rose 5.5% year-over-year in September, the largest annual increase since December 2022, the BLS and NAHB reported.
Wood Markets News
US Existing-Home Asking Prices Decline for First Time Since March
The median US asking price of an existing home fell 0.3% year-over-year in the four weeks ending October 11, the first annual decline since March, Redfin reported.
Canadian Housing Starts Rise in September
Canadian housing starts rose 3% in September to 248,896 units (SAAR), while the six-month trend edged up 0.6% to 250,411 units, CMHC reported.
Canadian Existing-Home Sales Decline in September
Existing-home sales in Canada fell 2.3% in September as new listings declined 1.8% and the sales-to-new listings ratio eased to 48.8%, CREA reported.
New Forests to Acquire AKD Plantation Forestry Assets in Australia
New Forests has agreed to acquire AKD’s plantation forestry assets, comprising 57 radiata pine plantations across more than 13,000 hectares in Australia.
US Releases Final Antidumping Duty Determinations in Seventh Review of Canadian Softwood Lumber
The US Department of Commerce released its final AR7 antidumping duty determinations for Canadian softwood lumber.
US Home Sellers Outnumber Buyers by Widest Margin in at Least 13 Years
Redfin reported that home sellers outnumbered buyers by 62.6% in September, the widest margin in records dating to 2013 and the fourth consecutive record month.
US 30-Year Fixed Mortgage Rate Holds Steady in the Week Ending October 15
The 30-year fixed-rate mortgage averaged 7.40%, unchanged from the previous week, Freddie Mac reported.
US Producer Price Index for Final Demand Increases 1.3% in September
US producer prices rose 1.3% in September. Year-over-year, prices increased 6.3%—the largest annual increase since December 2022.
US Weekly Initial Jobless Claims Trend Higher in the Week Ending October 10
The advance figure for seasonally adjusted initial unemployment claims was 199,000, an increase of 1,000 from the previous week.