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.
Wood Markets News
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.
Fixed Mortgage Rates Climb Higher in the Week Ending July 6th
The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.71%. A year ago at this time, the 30-year rate averaged 5.30%.
ADP® Reports Increased Private Sector Employment Gains but Reduced Compensation Growth in June
According to the ADP® National Employment Report™, nonfarm private sector employment increased by 497,000 jobs in June and annual pay was up 6.4% year-over-year.
Job Openings and Labor Turnover Summary for May
According to the JOLTS report, as of the last business day in May, the number of job openings and rate decreased to 9.8 million—down 496,000, or 0.3%. This offsets a similar size increase in April.
Private Sector Job Cuts Down Month-Over-Month but Up Year-Over-Year in June
US-based employers announced 40,70 job cuts in June. This is down 49% from the 80,089 job cuts announced in May; however, it is up 25% from the 32,517 job cuts announced in June 2022.
US Weekly Jobless Claims Increase in the Week Ending July 1st
The advance figure for seasonally adjusted initial unemployment claims was 248,000 during the week ending on Saturday, July 30th. This is an increase of 12,000 from the previous week’s revised level of 236,000.
U.S. Homes are Selling for 1% Less than Last Year’s All-Time Record High
Redfin, the Seattle-based, technology powered, real estate brokerage firm reported on Thursday (6-29-23), that according to their data the typical […]