Rayonier has entered into additional underground pore space lease agreements with ExxonMobil covering approximately 33,000 acres of timberlands in the United States.
Wood Markets News
New US Residential Single-Family Home Sales Up Month-Over-Month and Year-Over-Year in January
New residential single-family home sales in January were at a SAAR of 661,000, 1.5% above the revised December 2023 rate.
BC Premier “Profoundly Worried” About Upcoming Wildfire Season; Expands Contingency Fund
British Columbia Premier David Eby said he is “profoundly worried” about the potentially “terrible” upcoming wildfire season, The Canadian Press reported.
Labor Shortages in New US Home Building Lessen but Remain Above Housing Boom of 2004–06
With home building volumes lower, labor shortages have eased significantly since the record level set in 2021, according to the latest NAHB/Wells Fargo Housing Market Index.
US National Interagency Fire Center Wildfire Update for the Week Ending February 23rd
The US National Interagency Fire Center reported that as of Friday, February 23rd, 11 large new wildfires were reported during the week. Five of these fires have been contained.
EU Reaches Deal on Carbon Removals Certification Framework
EU negotiators reached a provisional agreement on a regulation to establish the first EU-level certification framework for carbon removals.
Fannie Mae’s Economic and Strategic Research Group Releases Its February Commentary
The ESR Group expects existing-home sales and new single-family housing starts to modestly grow in 2024 amid lower mortgage rates and slowly strengthening homebuyer sentiment.
Increase in New Listings of Existing-Homes For Sale Offset by Higher Mortgage Rates
For the four-week period ending on February 18th, new home listings rose 10% year-over-year—the biggest increase in two months, Redfin reported.
Washington State University Receives Grant for Research on Making Thermally Modified CLT More Resilient and Durable
Washington State University researchers received a grant to make more resilient and durable housing materials from thermally modified CLT and recycled carbon fiber, the WSU Insider reported.
Confidence in the Market for New Multifamily Housing Falls Into Negative Territory in 2023Q4
The National Association of Home Builders Multifamily Market Survey’s Multifamily Production Index was at reading of 41 in 2023Q4—below the break-even point of 50.