Greystar Real Estate Partners recently announced the opening of its flagship manufacturing facility for its modular construction business, Modern Living Solutions (“MLS”), which focuses on attainable and sustainable housing.
Wood Markets News
New Listings of US Homes For Sale Decline 22.4% Year-Over-Year
Redfin reported on Friday that in the four-week period ending on April 23rd, new listings of homes for sale fell 22.4% nationwide from a year earlier. This is one of the largest declines since the start of the pandemic.
Mortgage Payments Increase for Third Consecutive Month in March
The Mortgage Bankers Association (MBA) reported on Thursday that according to its Purchase Applications Payment Index (PAPI), homebuyer affordability declined in March. The national median payment applied for by applicants increased 1.6% to $2,093.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Up in March
The US Bureau of Economic Analysis reported on Friday that personal income (PI) increased 0.3%, in March. Disposable personal income (DPI) increased 0.4%. Personal consumption expenditures (PCE) increased less than 0.1%.
Canadian Real GDP Inches Higher in February
Statistics Canada reported Friday that real GDP inched 0.1% higher in February, following a 0.6% increase in January. Both service-producing and goods-producing industries edged up 0.1%.
University of Michigan Reports Final Results of its Consumer Sentiment Index for April
The University of Michigan on Friday released the final results of its Consumer Sentiment Index for April. The Index of Consumer Sentiment increased to a reading of 63.5 in April, a month-over-month increase of 2.4%.
US Pending Homes Sales Declined in 3 Out of 4 Regions in March
The National Association of Realtors® reported its Pending Homes Sales Index (PHSI) declined 5.2% from February to March to a reading of 78.9. Year-over-year, contract signing declined 23.2%. An index of 100 is equal to the level of contract activity in 2001.
Metsä Wood to Provide LVL Products to Swedish Wood Turbine Tower Builder Modvion
Metsä Wood announced Monday it has agreed to supply Modvion, a Swedish wood technology company, with laminated veneer lumber (LVL) for Modvion’s wooden wind turbine towers.
Latvijas Finieris Signs Contract With Raute for Technology to Expand Its Vermes, Latvia, Plywood Mill
Raute Corporation has announced that it signed a contract with AS Latvijas Finieris, a leading producer of birch plywood in Europe and Baltic countries, to deliver technology for the expansion of Latvijas Finieris’ Vermes, Latvia, plywood mill.
Real GDP in 2023Q1 Increased at an Annual Rate of 1.1%, BEA Reports in Its “Advance” Estimate
The Bureau of Economic Analysis released Thursday its “advance” estimate for Q1 real GDP. According to the report, GDP increased at an annual rate of 1.1%. This follows a reported real GDP increase of 2.6% in 2022Q4.