Redfin reported that US homebuyers need to earn $76,995 per year to afford the median priced starter home (with a value of $250,000).
Wood Markets News
CSX and Norfolk Southern Railway Working to Restore Service After Hurricane Helene
CSX and NS crews were working around the clock this past weekend to recover and restore service following the devastating impact of Hurricane Helene, Progressive Railroading reported.
US Existing Homes Changing Hands at the Lowest Rate in Decades
Redfin reported that just 25 out of every 1,000 US homes changed hands during the first 8-months of the year, the lowest turnover rate in decades.
University of Pennsylvania Dedicates New Mass Timber Building
Philadelphia, Pennsylvania’s newest and tallest mass timber building at the University of Pennsylvania was officially dedicated on Friday, Wood Central reported.
US National Interagency Fire Center Wildfire Update as of September 30th
30 large active wildfires are being managed with full suppression strategies nationwide. Current wildfires have burned 1,580,407 acres.
Mortgage Application Payments Retreat Further in August
The Mortgage Bankers Association Purchase Applications Payment Index decreased 3.9% to a reading of 160.7 in August, down from 167.2 in July.
University of Michigan Reports the Final Results of Its Consumer Sentiment Index for September
The University of Michigan Index of Consumer Sentiment rose to a reading of 70.1 in September, a month-over-month increase of 3.2%.
US Personal Income and Outlays for August
Personal income increased 0.2%; disposable personal income increased 0.2%; and personal consumption expenditures increased 0.2%.
MODEL Shares Details of the Tallest Mass Timber Residential Building in Melbourne, Australia
MODEL is sharing details of its first project, the tallest mass timber residential building in Melbourne, Australia, according to a feature by Architecture & Design.
Canadian Real GDP Increases 0.2% in July
The construction sector declined 0.4% for the second consecutive month and was the largest detractor to growth in July.