Wood Markets News


Federal Aviation Administration Announces New Sustainable Design for Future Air Traffic Control Towers Utilizing Mass Timber

The US Department of Transportation’s Federal Aviation Administration announced on Friday that it has selected a new sustainable design for future air traffic control towers. The design will be used primarily to replace towers still in use but beyond their intended design life at municipal and smaller airports in the US.

US Home Prices Decline, but Mortgage Payments Hit All-Time High

Redfin reported that the average US homebuyer’s monthly housing payment hit an all-time high of $2,538 as the average weekly mortgage rated increased to 6.39%, following five consecutive weeks of declines. The new high comes in spite of the median home-sale price dropping 2.6% from a year earlier.

Existing Home Sales Declined 2.4% Month-Over-Month in March

On Thursday, the National Association of Realtors® reported that total existing home sales recorded a 2.4% decline in March from February to a seasonally adjusted rate of 4.44 million. At the end of March, total housing inventory registered was 980,000 units, up 1.0% from February.