As of the last business day in July, the number of job openings declined 338,000 to 8.8 million while the rate declined to 5.3% from 5.8%.
Wood Markets News
Bakelite Synthetics Announces Agreement to Acquire LRBG Chemicals
Bakelite Synthetics has agreed to purchase and acquire LRBG Chemicals, Inc., a Canadian resin manufacturer and developer.
Wood-Framed Homes Continue to Dominate the US Marketplace for Third Straight Year
Wood framing remained the most dominate construction method for single-family homes in the US in 2022, according to the US Census Bureau and NAHB.
US Forest Service Fast-Tracking Bitterroot National Forest Logging Project in Montana
US Forest Service Chief Rand Moore announced that the Bitterroot Front Project in the Bitterroot National Forest has been fast-tracked by the federal government, according to the Billings Gazette.
Pending Home Sales Creep Higher in July but Still Remain Close to Recent Record Lows
In July, pending home sales rose 0.7% month-over-month on a seasonally adjusted basis to the highest level since the start of 2023, Redfin reported.
Canada Funding the Planting of 300,000 Trees on Prince Edward Island
A plan to invest nearly $3 million (CAD) to plant trees that will permanently expand the forest cover in Prince Edward Island (PEI) and help areas damaged by Hurricane Fiona to recover was announced on Friday.
Truckload Capacity Tightens in August—Tender Rejections Increase
The FreightWaves Outbound Tender Reject Index (OTRI) topped 4% in August for the first time since early January, when the trucking market was recovering from the holiday period.
Interest Rates on Acquisition, Development, and Construction Financing Climbed Higher in Q2
The National Association of Home Builders’ Survey on Acquisition, Development & Construction (AD&C) Financing shows interest rates on loans for AD&C continued to rise in Q2.
US Home Affordability at Worst Level Since 1984
Buying a house in the US requires a significantly larger portion of a homebuyer’s income, making this the most unaffordable housing market since 1984, by one measure, CNN Business reported.
US National Interagency Fire Center Wildfire Update for the Week of August 25th
As of Friday, August 25th, 78 large wildfires have burned more than 603,921 acres in 14 states. Five large new wildfires were reported just on Thursday.