Mortgage applications for new-home purchases decreased 7.0% in November but were up 3.1% from a year earlier, MBA reported.
Wood Markets News
US Construction Employment Climbs in November
US construction employment rose by 28,000 in November, as gains in nonresidential construction offset continued weakness in residential hiring, the BLS and NAHB reported.
BC and ‘Na̲mg̲is First Nation Sign Forestry Agreement
BC and the ‘Na̲mg̲is First Nation signed a joint decision-making agreement covering forestry planning and operations on Northern Vancouver Island.
ABC Construction Backlog Indicator Drops in November
ABC’s Construction Backlog Indicator fell to 8.1 months in November, with confidence mixed as sales optimism offset weaker profit margin and staffing expectations.
US Mortgage Applications Decline in the Week Ending December 12
Mortgage loan application volume decreased 3.8% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Job Vacancies Continue to Decline in Q3
Canadian job vacancies fell 2.8% in Q3 to 492,500, extending a decline that began after vacancies peaked in mid-2022.
Timber Neighborhood Planned Near Amsterdam
A 519-home timber neighborhood is planned near Amsterdam, featuring CLT frames, Global Construction Review reported.
Andersen to Acquire Bright Wood
Andersen Corporation said it will acquire Bright Wood Corporation, the largest independent US manufacturer of engineered dimensional lumber and window and patio door components.
Canadian Housing Starts Rise 9.4% in November
Canadian housing starts rose 9.4% in November to a SAAR of 254,058 units, while the six-month trend declined 1.7%, CMHC reported.
US Nonfarm Payroll Increases by 64,000 in November; Unemployment at 4.6%
US nonfarm payroll employment rose by 64,000 in November, while the unemployment rate rose to 4.6%. Construction added 28,000 jobs.