The advance figure for seasonally adjusted initial unemployment claims was 204,000 during the week ending Saturday, September 23rd. This is an increase of 2,000.
Wood Markets News
Canadian Survey of Employment, Payroll, and Hours Posts Modest Gains in July
Payroll employment was up only 4,900 in July, following an increase of 65,900, or 0.4%, in June. Job vacancies declined by 43,100, or 5.8%.
Paper Excellence Canada Restarting Catalyst Crofton Pulp Mill, but Paper Operations Remain Curtailed Through October
Paper Excellence Canada announced that it will resume kraft pulp operations at its Catalyst Crofton mill.
Fire Reported at Weyerhaeuser’s Buckhannon, West Virigina, Facility
Monday evening, local fire departments responded to a fire at Weyerhaeuser’s Buckhannon, West Virigina, engineered lumber facility, according to My Buckhannon.
US Home Values Continue to Soar in 2023, Led by New Home Construction
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.
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).