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.
Wood Markets News
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.”
Canadian Unemployment Increases 3% Month-Over-Month in February
Statistics Canada reported on Thursday that in February, 388,000 Canadians received regular Employment Insurance (EI) benefits, up by 11,000, or 3%, from January’s total. The February increase was the first monthly increase since July 2022.
Hampton Lumber’s Fort St. James Forest Products Ships First Lumber From New Sawmill
According to Burns Lake Lakes District News, on April 10th, Hampton Lumber’s Fort St. James Forest Products shipped its first load of lumber from its newly built sawmill. In 2019, Hampton Lumber bought the original sawmill from Conifex.
Existing Home Sales Declined 2.4% Month-Over-Month in March
On Thursday, the National Association of Realtors® reported that total existing home sales recorded a 2.4% decline in March from February to a seasonally adjusted rate of 4.44 million. At the end of March, total housing inventory registered was 980,000 units, up 1.0% from February.
US Home Prices Increase Quarterly and Annually in Q1
According to Fannie Mae’s latest Home Price Index (FNM-HPI), single-family home prices increased at a non-seasonally adjusted annual rate of 4.7% from 2022Q1 to 2023Q1, down from the previous quarter’s revised annual growth rate of 8.6%.
New Two-Story Mass Timber Pedestrian Bridge Installed at George Brown College in Toronto
PCL and Limberlost Place partners are celebrating a construction milestone at George Brown College’s Limberlost Place with the installation of a two-story mass timber pedestrian bridge. Installation of the bridge included prefabricating individual CLT pieces off site.