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.
Wood Markets News
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.
Mass Plywood Panels in Oakland, California, High-Rise Highlight Faster Installation
oWow and DCI Engineers are working on completing a 19-story mixed-use housing development project in Oakland, California, according to a feature by ENRCalifornia.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for August
The Index of Consumer Sentiment declined to a reading of 69.5 in August, down from 71.6 in July, the University of Michigan reported.
Domain Timber Advisors Sells 1,300 Acres in Richmond County, Virginia, for Solar Energy Project
Domain Capital Group and its subsidiary Domain Timber Advisors announced the disposition of nearly 1,300 contiguous acres of timberland to a local utility company in Virginia.