New listings of homes increased 7.6% in the four-week period ending December 15th, Redfin reported.
Wood Markets News
US Personal Income and Outlays for November
Personal income increased 0.3% at a monthly rate in November; disposable personal income increased 0.3%; and personal consumption expenditures 0.4%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for December
The University of Michigan Index of Consumer Sentiment increased 3.1% to a reading of 74.0 in December, up from 71.8 in November.
Engineers Developing First Fully Modular Timber Skyscrapers
Timber engineers are working to develop the world’s first fully modular timber skyscrapers, utilizing CLT floors and glulam beams and columns to create giant “skeleton” building systems, according to a feature by Wood Central.
US Commercial and Multifamily Mortgage Debt Outstanding Increases 1.0% in Q3
In Q3, the level of commercial/multifamily mortgage debt outstanding increased 1.0%, or $47.7 billion, MBA reported.
Canadian Payroll Employment and Job Vacancies Decline in October
Payroll employment declined by 21,100 (0.1%) in October, following minimal changes in September and August. However, year-over-year, payroll employment increased by 125,800 (0.7%).
Dunkley Lumber Completes Modernization of Edgewood Forest Products Sawmill in Saskatchewan
Dunkley Lumber has completed a three-year, C$240-million modernization of its sawmill in Saskatchewan, according to a feature by Forestnet.
US Existing-Home Sales Increase 4.8% in November
Total existing-home sales increased 4.8% in November, reaching a seasonally adjusted annual rate of 4.15 million, NAR reported.
US Real GDP Increases at an Annual Rate of 3.1% in Q3, BEA Reports in Its “Third” Estimate
Real GDP increased at an annual rate of 3.1% in Q3, an upward revision from 2.8% growth reported in the “second” estimate issued last month.
US Mortgage Rates Resume Upward Trek in the Week Ending December 19th
The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.60%, Freddie Mac reported.