The US exported 796,988 million metric tons of wood pellets in September, down 21% from August, according to the USDA and Biomass Magazine.
Wood Markets News
US Asking Rent Prices Continue to Inch Lower in October
The median US asking rent in October was 3.7% below the record high of $2,054 set in August 2022 and down 0.3% from a year ago, Redfin reported.
Consumer Credit Outstanding Growth Slows in Q3, Federal Reserve’s G.19 Consumer Credit Report Shows
Consumer credit outstanding growth slowed to a seasonally adjusted annual rate (SAAR) of 0.4% in Q3, according to the Fed and NAHB analysis.
Fannie Mae’s Home Purchase Sentiment Index® Increases in October Despite Higher Mortgage Rates
Fannie Mae’s Home Purchase Sentiment Index® (HPSI) inched 0.4 points higher to a reading of 64.9 in October.
States of Emergency Declared as Late Season Wildfires Burn Out of Control
Many states have already or are preparing to declare a state of emergency to deal with numerous wildfires that are consuming thousands of acres of forestland.
Commercial/Multifamily Borrowing Down in Q3
In Q3, Commercial and multifamily originations were down 49% year-over-year and 7% when compared to Q2, according to the Mortgage Bankers Association.
Ireland Forms New Steering Group to Examine Greater Use of Timber in Construction
Ireland announced on Tuesday the creation of a new steering group to examine increasing the use of timber in Irish construction.
Portland, Oregon’s New CLT Airport Terminal Helping Increase Interest in Mass Timber
Portland, Oregon’s new airport terminal, built with CLT, is featured in a new profile by Good News Network.
Louisiana’s Wildfire Losses Estimated at $71 Million but Predicted to Climb Higher as Fires Continue
Wildfires dealt a blow of at least $71 million to the Louisiana’s timber sector, according to estimates from the LSU AgCenter reviewed by the Greater Baton Rouge Business Report.
BC Announces Additional Investments to Help Manufacturing Companies Grow in Northern BC
BC announced that it is investing more than $1.2 million (CAD) in a variety of expansion projects to help manufacturing companies grow.