The rental vacancy rate of 6.9% was not statistically different from Q3 (6.9%). The homeowner vacancy rate of 1.1% was not statistically different Q3 (1.0%).
Wood Markets News
US Existing-Home Sales Slump Just as More New Listings Hit the Market
New listings of US homes for sale rose 7.9% year-over-year during the four weeks ending February 2, the biggest increase since the end of last year, Redfin reported.
US Construction Unemployment Rate Rises 0.8% Year-Over-Year in December
Not seasonally adjusted, the US construction unemployment rate was 5.2% in December, up 0.8% year-over-year, ABC reported.
UK Extends Biomass Energy Agreement With Drax but Reduces Subsidies
The UK and Drax reached a new deal that will halve the energy producer’s subsidies over 2027–31, while ensuring the group uses more sustainable sources of woody biomass, Reuters reported.
Tallest Commercial Mass Timber Building in New South Wales, Australia, is Approved
Sydney, Australia, will soon become home to a 13-story high-rise recently approved for development, according to a feature by Architecture, Au.
US Housing Sentiment Edges Higher in January Even as Affordability Concerns Grow
The Fannie Mae Home Purchasing Sentiment Index increased 0.3 points to a reading of 73.4 in January, recovering slightly after falling in December for the first time since July.
US Construction Sector Employment Growth Slows in January
Overall employment in the construction sector increased by 4,000 in January, down from a 13,000 increase in December, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 143,000 in January; Unemployment Falls to 4.0%
Nonfarm payroll employment increased by 143,000 in January. The unemployment rate edged down to 4.0%, reflecting annual adjustments to population controls.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for February
The University of Michigan Index of Consumer Sentiment declined to a reading of 67.8 in February. This is a month-over-month decline of 4.6% and down 11.8% year-over-year.
Canadian Employment Increases in January; Unemployment Trends Lower
Employment increased 0.4%, or 76,000 positions. The unemployment rate fell 0.1 percentage points to 6.6%.