Prices for lumber and other wood products rose 1.2% in September, increasing for the second consecutive month. Higher prices for softwood lumber, up 3.2%, led the gain.
Wood Markets News
Redfin Reports US Home Prices Increased for Third Consecutive Month in September
Redfin reported that US home prices grew 0.5% month-over-month in September on a seasonally adjusted basis, the fastest pace since April.
Stswecem’c Xget’tem First Nation Signs Forest Management MOU With West Fraser
The Stswecem’c Xget’tem First Nation has signed a MOU with West Fraser to provide a forest management framework, The Williams Lake Tribune reported.
Södra Announces New Initiatives to Strengthen Sweden’s Forest Estates, Including Higher Prices
Södra announced that prices were raised for saw logs and small-diameter sawable ranges on October 21st, and a new tool is being introduced to increase security for forest owners.
State-Level Construction Employment Data for September
Construction employment increased in 24 states and the District of Columbia in September, the BLS and NAHB reported.
Share of US Mortgage Loans in Forbearance Increases for Fourth Consecutive Month in September
The total number of loans in forbearance as of September 30th increased to 0.34% of servicers’ portfolio volume, up from 0.31% in August, MBA reported.
The Conference Board US Leading Economic Index Trends Lower in September
The Conference Board Leading Economic Index declined 0.5% in September to a reading of 99.7 (2016=100), following a 0.3% decline in August.
US National Forest Products Week Proclamation
On Friday, President Biden issued a proclamation declaring October 20th through October 26th as National Forest Products Week.
US Home Builders Focusing on Townhomes and Condos to Alleviate Housing Shortage
Zillow reported that America’s housing stock continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage.
US National Interagency Fire Center Wildfire Update as of Monday October 21st
As of Monday, October 21st, wildland fire activity continues in 11 states where 30 large active wildfires have burned 1,117,707 acres.