The advance figure for seasonally adjusted initial unemployment claims was 218,000, a decrease of 4,000 from the previous week.
Wood Markets News
Canadian Employment Posts Modest Gain in July
The number of employees receiving pay and benefits from their employer increased 0.2% in July, following a decline of 0.1% in June.
Drax to Invest Up to $12.5 Billion in US Biomass Plants With Carbon Capture and Storage
Drax could invest up to $12.5 billion to develop biomass plants with carbon capture and storage (BECCS) in the US over the next decade, Reuters reported.
Dockworkers at US East and Gulf Coast Ports Preparing to Strike as Early as October 1st
A strike next week by 45,000 dockworkers across US East and Gulf coasts appears likely, the CEO of the Georgia Ports Authority told the Associated Press.
New US Residential Single-Family Home Sales Decline 4.7% in August
New residential single-family home sales in August were at a seasonally adjusted annual rate of 716,000, down 4.7% from July.
Nearly Half of All US Existing-Home Listings Are Considered Stale, or Over 60 Days on the Market
48% of all US listings have lingered on the market for at least 60 days, the highest share for any August since 2019, Redfin reported.
Mortgage Applications Rise in the Week Ending September 20th—Fifth Consecutive Increase
Mortgage loan application volume increased 11.0% on a seasonally adjusted basis from one week earlier, MBA reported.
US Home Affordability Improves For the First Since June 2020, Redfin Says
US homebuyers need an annual income of $115,454 to afford the median priced home, down 1.4% year-over-year and the first annual decline since June 2020, Redfin reported.
FHFA House Price Index Increases 4.5% Year-Over-Year in July
US house prices, seasonally adjusted, increased 0.1% in July. Year-over-year, house prices rose 4.5%.
Southern Forest Products Export Report for July
Exports of Southern pine lumber (treated and untreated) through July continued to outpace 2023, up 15%, the USDA and SFPA reported.