Zillow estimates that the total value of the US housing market is now slightly less than $52 trillion, $1.1 trillion higher than the previous peak in June.
Wood Markets News
Mortgage Applications Retreat in Week Ending September 22nd
Mortgage loan application volume decreased 1.3% on a seasonally adjusted basis, according to the Mortgage Bankers Association.
US Single-Family Lot Sizes Continued to Shrink and Cost More in 2022, but Trailed Inflation Rates
The National Association of Home Builders’ analysis of Census Bureau data reveals that lot values for single-family detached spec homes continued to increase in 2022.
Hurricane Idalia Damaged 289,000 Acres of Timber, Report Shows
Hurricane Idalia caused damage to 289,096 acres of timber, resulting in an estimated loss of $64,751,255 in value, according to reporting by Fox Weather.
US New Residential Single-Family Home Sales Decline Month-Over-Month in August
New residential single-family home sales for August were at a SAAR of 675,000, according to estimates. This is 8.7% below the revised July rate.
VIDA AB to Acquire Sawmill in Ingarp, Sweden
VIDA AB, owned 70% by Canfor, announced that it is acquiring a 50 million board foot sawmill from Ingarp Träskydd for 50 million SEK (CAD$6.0 million).
FHFA House Price Index Increased Month-Over-Month and Year-Over-Year in July
The Federal Housing Finance Agency US House Price Index rose 0.8% month-over-month in July, seasonally adjusted. Year-over-year, prices rose 4.6%.
S&P CoreLogic Case-Shiller US Home Price Index Rises 0.6% Month-Over-Month in July
The S&P CoreLogic Case-Shiller US National Home Price NSA Index for July reported an annual gain of 1.0%, after posting no change in June.
Scotland’s Fife College Using CLT/Steel Hybrid Construction to Meet Carbon Targets
Located in Scotland, Fife College’s new campus is being built to meet the government’s carbon targets by using a steel/timber hybrid method, according to Project Scotland.
The Conference Board US Consumer Confidence Index Retreats for Second Consecutive Month in September
The Conference Board Consumer Confidence Index® declined to a reading of 103.0 (1985=100) in September, down from a revised August reading of 108.7.