According to results released by the National Association of Home Builders Housing Trends Report, prospective buyers’ interest for new home construction was essentially unchanged between 2022Q4 and 2023Q1. The share of potential buyers looking to buy a newly built home inched up from 20% to 21%.
Wood Markets News
Mortgage Applications Increase in the Week Ending April 21st
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey for the ending April 21st, the Market Composite Index increased 3.7% on a seasonally adjusted basis from one week earlier.
Kronospan Announces Construction of a New, State-of-the-Art OSB Mill in Oxford, Alabama
Kronospan announced Tuesday that it will begin construction of a new, state-of-the-art oriented strand board (OSB) manufacturing plant to be located on its 460-acre site in Oxford, Alabama.
Entekra to Be Closed and Dissolved by End of June
Entekra announced on April 17th that it is being dissolved, according to a report by The Modesto Bee. Consequently, 138 workers will be losing their jobs.
US New Residential Home Sales Rise 9.6% Month-Over-Month in March
The US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for March were at a SAAR of 683,000. This is 9.6% above the revised February rate of 623,000.
Fire Heavily Damages Hood Industries’ Bogalusa, Louisiana, Sawmill
4WWL TV reported Monday that a massive fire broke out on Sunday evening at Hood Industries’ sawmill facility located in Bogalusa, Louisiana. It took more than 15 different fire departments and over 100 firefighters to extinguish the blaze.
FHFA House Price Index Increased Month-Over-Month and Year-Over-Year in February
The Federal Housing Finance Agency reported Tuesday its House Price Index (HPI®) for February. US house prices rose 0.5%, seasonally adjusted, between January and February. Year-over-year, house prices rose 4.0%.
S&P CoreLogic Case-Shiller US Home Price Index Posts Annual Gain in February
On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for February. Home prices experienced a 2.0% annual gain, down from a 3.7% annual gain in January.
The Conference Board’s Consumer Confidence Index Declines in April
The Conference Board released Tuesday its Consumer Confidence Index® (CCI) for April. The CCI Index declined to a reading of 101.3 (1985=100), down from March’s reading of 104.0.
LP Building Solutions Acquires the Assets of Wawa OSB, a Subsidiary of Forex
LP Building Solutions announced on Friday that it has entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB, Inc, a subsidiary of Forex Inc. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May.