The median US asking rent barely moved in October, nudging up 0.2% year-over-year to $1,619, Redfin reported.
Wood Markets News
NFIB Small Business Optimism Index Trends Higher in October
The NFIB Small Business Optimism Index increased 2.2 points to a reading of 93.7 in October.
US National Interagency Fire Center Wildfire Update as of November 12th
As of Tuesday, wildland fire activity continues in 6 states where 7 large active wildfires have burned 290,071 acres.
BC Port Lockouts Continue With No New Talks Scheduled
Talks held over the weekend between BC maritime employers and their longshore union were over almost before they began, FreightWaves reported.
Montreal Longshoremen’s Union Rejects Final Offer; Lockout Underway
The Montreal Longshoremen’s Union rejected a final offer made for a new labor contract, leading to a lockout being declared, Reuters reported.
Canadian Government Turns to Mass Timber, 3D Printing, and Modular Construction to Speed Affordable Housing
Canada is turning to mass timber, 3D printing, and modular construction to fast-track affordable housing on its Atlantic coast, Wood Central reported.
New Mass Timber Building in Toronto Home to Teachers’ Federation and Commercial Space
The new Ontario Secondary School Teachers’ Federation Headquarters and Multi-Tenant Commercial Building has opened in Toronto, according to Canadian Architect.
Fannie Mae Home Purchase Sentiment Index Rises in October
The Fannie Mae Home Purchase Sentiment Index increased 0.7 points in October to a reading of 74.6, pushing the measure to its highest level since February 2022.
University of Michigan Reports the Preliminary Results of Its Consumer Sentiment Index for November
The Index of Consumer Sentiment increased to a reading of 73.0 in November, up 3.5% from October and up 19.1% year-over-year, the University of Michigan reported.
Commercial and Multifamily Mortgage Loan Originations Soar in Q3
Commercial and multifamily mortgage loan originations in Q3 increased 59% year-over-year and 44% when compared to Q2, MBA reported.