National Association of Realtors® Chief Economist Lawrence Yun presented several predictions for 2024 at NAR’s Real Estate Forecast Summit: The Year Ahead.
Wood Markets News
Australian Timber Producers Receive Federal Grants to Expand Plantation Forests
Australia’s Department of Agriculture, Fisheries, and Forestry will distribute $70 million (AUD) in federal grants to expand Australia’s plantation estates, ABC reported.
Maine’s Bowdoin College Incorporates the State’s “Working Forest” Identity Into a Pair of New Mass Timber Buildings
HGA has unveiled for the first time a new mass timber project that was completed earlier this year at Bowdoin College in Brunswick, Maine, according to a feature by Archinect.
Western Australia Releases Forest Management Plan 2024–33
The plan includes the end of commercial logging in native forests as a part of the latest framework for managing more than 2.5 million hectares (6.18 million acres) of native forest.
USDA Forest Service Prepares to Celebrate Smokey Bear’s 80th Birthday
The US Department of Agriculture (USDA) and USDA Forest Service jointly announced a yearlong celebration of Smokey Bear on his 80th birthday.
Thirty-Year Fixed Mortgage Rates Fall Below 7%
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 7.03%, according to Freddie Mac.
US Building Materials Costs in Residential Construction Creep Higher in November
The prices of goods used in residential construction, less energy, increased 0.2% in November, following a 0.4% decline in October, the NAHB and BLS reported.
Commercial and Multifamily Mortgage Debt Outstanding Increases by $37 Billion in Q3
In Q3, the level of commercial and multifamily mortgage debt outstanding increased 0.8% to $37.1 billion, the Mortgage Bankers Association reported.
Canadian Existing Home Sales Inch Lower Month-Over-Month and Year-Over-Year in November
The Canadian Real Estate Association announced that home sales recorded over Canadian MLS® Systems declined 0.9% from October to November.
US Weekly Jobless Claims Decline in the Week Ending December 9th
The advance figure for seasonally adjusted initial unemployment claims was 202,000 during the week ending Saturday, December 9th, a decrease of 19,000 from the previous week.