Conditions for custom home builders remains relatively flat after a period slight softening of market share due to declining mortgage rates, the Census Bureau and NAHB reported.
Wood Markets News
Finland: Timber Purchases Rise 20% Above Five-Year Average Year-To-Date
The Finnish Forest Industries Federation reported that its members purchased 32.3 million cubic meters of wood from private forests from January through October.
Canadian New Housing Price Index Declines 0.4% in October; Largest Monthly Drop Since 2009
The New Housing Price Index fell 0.4% in October, the largest monthly decline since April 2009. However, the picture was mixed across the country.
University of Michigan Reports the Final Results of Its Consumer Sentiment Index for November
The University of Michigan’s Index of Consumer Sentiment increased 1.8% month-over-month and 17.1% year-over-year.
US Existing-Home Sales Increase 3.4% in October
Existing-home sales increased 3.4% to a seasonally adjusted annual rate of 3.96 million in October, NAR reported. Sales also posted the first year-over-year gain since July 2021.
Canadian Industrial Product and Raw Materials Price Indices for October
Prices for lumber and other wood products increased 1.3%, marking the third consecutive monthly gain.
Fannie Mae ESR Group Revises Its Housing Market Outlook for 2025
The ESR Group now expects existing-home sales to increase only 4.0% next year from a 2024 pace that is on track for a nearly 30-year low.
US Mortgage Rates Resume Upward Trek in the Week Ending November 21st
The 30-year fixed-rate mortgage averaged 6.84%, up from last week when it averaged 6.78%, MBA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending November 16th
The advance figure for seasonally adjusted initial unemployment claims was 213,000, a decrease of 6,000 from the previous week’s revised level.
US Army Completes Seismic Test of Thermally Modified CLT
The US Army Engineer Research and Development Center and its partners tested an innovative CLT shelter made using thermally modified coastal western hemlock, ABC News 20 reported.