For the four-week period ending January 21st, the median sales price of US existing homes increased 5.1%, Redfin reported.
Wood Markets News
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.
Fixed-Rate Mortgages Climb in the Week Ending January 25th
The 30-year fixed-rate mortgage averaged 6.69%, up from last week when it averaged 6.60%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 3.3% in 2023Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 3.3% in Q4, the BEA said in its “advance estimate. That follows a reported real GDP increase of 4.9% in Q3.
Mortgage Application Payments Move Lower in December
The Mortgage Bankers Association’s Purchase Applications Payment Index fell 3.8% to a reading of 161.8 in December, down from 168.2 in November.
US Weekly Jobless Claims Increase in the Week Ending January 20th
The advance figure for seasonally adjusted initial claims was 214,000 during the week ending January 20th, an increase of 25,000 from the previous week.
Exemplary Forestry Management Acquires 3,000 Acres in Maine, Launching Investment Fund
Exemplary Forestry Management and its partners have launched an investment fund with the acquisition of the 3,000-acre Scammon Ridge Headwaters in Maine.
Sveaskog, Sweden’s Largest Forest Owner, Raises Timber Prices
Citing strong demand for green raw materials, Sveaskog announced that it is raising the prices for private forest owners who sell their wood to Sveaskog.