A homebuyer with a $3,000 monthly budget has gained nearly $40,000 in purchasing power since mortgage rates peaked last year, Redfin reported.
Wood Markets News
Belarusian Sawn Timber Exports Increase Nearly 40% in 2023
BelTA reported that exports of Belarusian sawn timber were up by almost 40% in 2023, according to figures released by the Belarusian Forestry Ministry.
World’s First Full-Scale Timber Wind Turbine is Operational in Sweden
Built by wood technology company Modvion, the world’s first full-scale timber wood turbine has started turning, according to a feature by Dezeen.
Canadian Payroll Employment Declines in November
Canadian payroll employment declined by 88,300, or 0.5%, in November. This follows a decline of 24,000, or 0.1%, in October.
Paper Excellence to Indefinitely Curtail Paper Production at Its Catalyst Crofton Facility in BC
Paper Excellence Canda announced it will indefinitely suspend paper production at its Catalyst Crofton facility on Vancouver Island.
US Pending Home Sales Grow 8.3% Month-Over-Month in December
The National Association of Realtors® Pending Home Sales Index was 8.3% higher in December, climbing to a reading of 77.3.
US Existing-Home Prices Increased in the Early Weeks of 2024, Redfin Says
For the four-week period ending January 21st, the median sales price of US existing homes increased 5.1%, Redfin reported.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in December
Personal income (PI) increased 0.3% month-over-month in December; disposable personal income (DPI) increased 0.3%; and personal consumption expenditures (PCE) increased 0.7%.
Boise Cascade to Invest $140 Million to Support Its Engineered Wood Products Growth Strategy in Alabama and Louisiana
Boise Cascade announced new investments totaling $140 million over the next two years in its Alabama and Louisiana facilities in support of its EWP growth strategy.
New US Residential Single-Family Home Sales Up 8.0% Month-Over-Month in December
New residential single-family home sales were at a SAAR of 664,000 in December, 8.0% above November and 4.4% above December 2022.