The impact of the 7,400 members of the International Longshore & Warehouse Union, which have been on strike since July 1st, are now reverberating through the supply chain and into the railroads.
Wood Markets News
Fannie Mae’s Home Purchase Sentiment Index Increases Slightly in June
The Fannie Mae Home Purchase Sentiment Index® increased by 0.4 points to a reading of 66.0 in June, as challenging supply and affordability conditions continue to weigh on the housing market.
Construction Sector Employment Increases in May
The construction labor market experienced an increase in job openings in May, following a downward revision to April’s estimate.
US Nonfarm Payroll Increases by 209,000 in June; Unemployment Declines to 3.6%
Total nonfarm payroll employment increased by 209,000 in June. The unemployment rate changed little at 3.6%, and the number of unemployed persons was mostly flat at 6.0 million.
Canadian Employment Increases but So Does Unemployment in June
Employment in Canada in June increased by 60,000, or 0.3%, following little change in May. The increase was the largest since January. Employment growth had moderated from February to May.
US National Interagency Fire Center Wildfire Update for the Week Ending July 7th
As of Friday, June 7th, 18 large wildfires have burned 125,235 acres in six states. Nationally, three large new wildfires have been reported over the past 7 days. Since January 1st, 25,163 wildfires have burned 702,608 acres.
Sale-to-List Price Ratio for US Homes Surpasses 100% for First Time in Nearly a Year
Redfin reported that the average US sale-to-list price ratio surpassed 100% for the first time in nearly a year during four-week period ending July 2nd.
Mortgage Applications Decline for First Time in a Month in the Week Ending June 30th
According to the Mortgage Bankers Association, mortgage loan application volume fell 4.4% on a seasonally adjusted basis from one week earlier. The results include an adjustment for the Juneteenth holiday.
Canadian and BC Provincial Governments Support Groundbreaking on Mass Timber Building in Vancouver
A MP for Vancouver Granville, on behalf of Minister of Natural Resources, announced a $3.5 million (CAD) contribution toward the construction of an innovative hybrid mass timber commercial office building.
Musser Biomass and Wood Products to Expand Production of Dried Hardwood Chips and Sawdust in Virginia
Musser Biomass and Wood Products, a division of Musser Lumber Company, announced on Friday that it plans to expand its operations in Wythe County, Virginia.