The median US asking rent rose 0.9% year-over-year in August to $1,645—the biggest annual increase since April 2023—Redfin reported.
Wood Markets News
NFIB Small Business Optimism Index Declines in August, Erasing July’s Gains
The NFIB Small Business Optimism Index decreased by 2.5 points to a reading of 91.2 in August, erasing July’s gains.
Georgia-Pacific Modifies Lumber Operations in Camden, TX, and Prosperity, SC
Over the next couple of months, these sites will discontinue lumber production from logs while maintaining plywood core sawing operations, The Lufkin Daily News reported.
Fannie Mae Home Purchase Sentiment Index® Inches Higher in August Thanks to Lower Mortgage Rates
The HPSI increased 0.6 points to a reading of 72.1 in August, as consumers reported greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment.
Nonresidential Employment Increases in August, but Builder Confidence Continues to Waiver
Nonresidential construction employment increased by a net 28,300 positions August, with growth in all three subcategories, ABC reported.
One of Europe’s Largest Hybrid Timber Buildings Nears Completion
Bjarke Ingels Group (BIG) said the Luxembourg Airport’s Skypark Business Centre (SBC) is almost fully enclosed and on track to open in the coming months, Wood Central reported.
US National Interagency Fire Center Wildfire Update as of September 9th
As of Monday, 67 large active wildfires are being managed with full suppression strategies nationwide. Current wildfires have burned 2,146,170 acres.
US Nonfarm Payroll Increases by 142,000 in August; Unemployment Inches Lower to 4.2%
Total nonfarm payroll employment increased by 142,000 in August. This is below the average monthly gain of 202,000 over the previous 12 months.
Construction Sector Employment Leads August Nonfarm Payroll Report Higher
Employment in the construction sector increased by 34,000 positions in August, up from a gain of 13,000 in July, the BLS and NAHB reported.
Sweden’s Sveaskog Announces Timber Price Increase
Sveaskog announced that it was raising the prices on timber and pulpwood in large parts of the country. This marks the third increase this year.