Consumer credit outstanding growth slowed to 4.0% in 2023Q2 (SAAR), according to the US Federal Reserve and analysis by the National Association of Home Builders.
Wood Markets News
Economic Uncertainty Continues to Negatively Impact North Carolina Timber Pricing
The Wilkes Journal Patriot published an article written by Dr. Robert Barton, Associate Dean of Extension at North Carolina State University, in which he discusses the status of the state’s timber industry.
Mortgage Credit Availability in July Declines to Its Lowest Level Since 2013
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) report, mortgage credit availability declined 0.3% in July.
Permit-to-Completion Times in Multifamily Buildings Increased Significantly in 2022
The average length of time to complete construction of a multifamily building in 2022, after receiving authorization, was 2.3 months longer than in 2021, according to the Census Bureau and NAHB.
NFIB’s Small Business Optimism Index Increased in July but Remains Below 49-Year Average
The National Federation of Independent Business Small Business Optimism Index increased 0.9 points to a reading of 91.9 in July. This is the 19th consecutive month that it has been below the 49-year average of 98.
First Timber High-Rise in Tasmania, Australia, Taking Shape
In Launceston, Tasmania, Australia, a $30 million (A$) high-rise building made from timber is taking shape, according to ABC News. Five of the seven levels are built with engineered timber beams.
Fannie Mae Home Purchase Sentiment Index Improves Slightly in July
The Fannie Mae Home Purchase Sentiment Index® increased slightly in July, as consumers’ confidence regarding their personal financial situation was largely offset by further pessimism toward homebuying conditions.
BC Dockworkers Ratify New Labor Agreement
Members of the International Longshore and Warehouse Union Canada have voted in favor of accepting a tentative agreement, according to reporting by The Candian Press.
ADMARES Group Announces Plans to Build a Smart Modular Home Plant in Waycross, Georgia
Finland’s ADMARES Group Ltd. plans to build six smart factories around the world, including one in Waycross, Georgia, according to Georgia Law News.
Chinese Companies Continue to Increase Sawn Timber Purchases via the Belarusian Universal Commodity Exchange
Between January and July, Chinese companies have increased purchases of sawn timber through the Belarusian Universal Commodity Exchange by approximately 2.5 times when compared to the same time period in 2022.