The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 4.2% in August, down from a 4.8% increase in July.
Wood Markets News
Higher Mortgage Rates Are Reducing Homebuyers’ Purchasing Power
A homebuyer on a $3,000 monthly budget has lost $33,250 in purchasing power over the last six weeks, with the daily average 30-year fixed mortgage rate rising to 7% on October 28th, Redfin reported.
US Job Openings and Labor Turnover Summary for September
As of the last business day in September, the number of job openings was 7.4 million. Year-over-year, the measure was down 1.9 million. The job openings rate was 4.5%, little changed from 4.8% in August.
US Consumer Confidence Index Rebounds in October
The Conference Board Consumer Confidence Index® (CCI) increased to a reading of 108.7 in October (1985=100), up from an upwardly revised reading of 99.2 in September.
Stora Enso to Acquire Finnish Sawmill Company Junnikkala
Stora Enso announced that it has entered into an agreement to acquire 100% of the Finnish sawmill company Junnikkala Oy.
Fannie Mae Economic and Strategic Research Group Review of Home Sales Data
Existing-home sales were a bit below the ESR Group’s expectations in September. With the revisions, the new sales figure was almost exactly in line with the Group’s forecast for the quarter.
Mississippi State University and Mississippi Lumber Manufacturing Association Partner to Advance Mass Timber Construction
MSU and the Mississippi Lumber Manufacturing Association announced the establishment of the Mississippi Lumber Manufacturers Association Endowed Professorship in Innovative Wood Construction and Design at MSU.
Ireland Reduces Forest Sector Budget as Farmers Turn Away From Planting Trees
Experts in Ireland are warning that the €20 million reduction in this year’s allocation from the government for the forestry sector is a warning sign, the Irish Independent reported.
Entry Period Begins for $1.8 Million 2025 Mass Timber Competition: Building Sustainable Schools
This year’s competition will award funds totaling $1.8 million to support projects that accelerate the pace of mass timber adoption in the United States, specifically in the K-12 learning environment.
US National Interagency Fire Center Wildfire Update as of October 28th
As of Monday, wildland fire activity continues in 9 states where 11 large active wildfires have burned 1,073,226 acres.