On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for February. Home prices experienced a 2.0% annual gain, down from a 3.7% annual gain in January.
Wood Markets News
The Conference Board’s Consumer Confidence Index Declines in April
The Conference Board released Tuesday its Consumer Confidence Index® (CCI) for April. The CCI Index declined to a reading of 101.3 (1985=100), down from March’s reading of 104.0.
LP Building Solutions Acquires the Assets of Wawa OSB, a Subsidiary of Forex
LP Building Solutions announced on Friday that it has entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB, Inc, a subsidiary of Forex Inc. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May.
Structurlam Files for Bankruptcy; Plans to Sell Assets in BC and Arkansas to Mercer International
Structurlam Mass Timber Corporation announced Monday that it has entered into a stalking horse asset purchase agreement with Mercer International to sell substantially all of its assets in British Columbia and Arkansas for US$60 million.
Federal Aviation Administration Announces New Sustainable Design for Future Air Traffic Control Towers Utilizing Mass Timber
The US Department of Transportation’s Federal Aviation Administration announced on Friday that it has selected a new sustainable design for future air traffic control towers. The design will be used primarily to replace towers still in use but beyond their intended design life at municipal and smaller airports in the US.
US National Interagency Fire Center Wildfire Update for the Week Ending April 21st
The US National Interagency Fire Center is reporting that as of Friday, 54 large new fires were reported. Wildland firefighters and support personnel are working towards containment goals on 20 large fires that have burned 14,812 acres in 11 states.
US Nonfarm Payroll Data for the Construction Sector by State for March
A closer look at the Bureau of Labor Statistics Nonfarm Payroll report for March reveals that 19 states reported an increase in construction sector jobs when compared to February. Twenty-six reported losing construction sector jobs, while three states reported no change at all.
US Home Prices Decline, but Mortgage Payments Hit All-Time High
Redfin reported that the average US homebuyer’s monthly housing payment hit an all-time high of $2,538 as the average weekly mortgage rated increased to 6.39%, following five consecutive weeks of declines. The new high comes in spite of the median home-sale price dropping 2.6% from a year earlier.
Fannie Mae’s Economic and Strategic Research Group Revises Q1 GDP Forecast Higher
Citing an upward revision in recent consumer spending data, Fannie Mae’s Economic and Strategic Research (ESR) Group is now forecasting stronger Q1 GDP growth while maintaining its belief that economic momentum is running out of steam.
Logs Moved via Rail for First Time in Decades to Help With Australia’s 2020 Bushfires Recovery
To help meet the demand for sawn timber and to keep mills in operation, logs are being transported more than 900 kilometers by rail from northern New South Wales as part of the bushfire recovery, according to a report by “ABC News.”