Nonresidential construction spending declined 0.1% in November, the Census Bureau and ABC reported. On a seasonally adjusted annual basis, spending reached $1.234 trillion.
Wood Markets News
Sweden’s Mellanskog Raises Timber Prices
Mellanskog announced it was raising the price of pine and spruce logs, citing continuing strong demand for timber from family forestry in central Sweden.
S&P CoreLogic Case-Shiller Index Reports 3.6% Annual Gain in US Home Prices in October
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 3.6% in October, down from a 3.9% increase in September.
Southern Pine Exports Down 16% Year-Over-Year in October
Southern pine exports—both treated and untreated—were 13% higher year-to-date through October compared to the same period in 2023, the SFPA and USDA reported.
Irving Forest Products to Acquire Masardis Sawmill in Maine
Irving Forest Products will acquire the Masardis Sawmill in Masardis, Maine. It currently employs 80 people and has the capacity to produce 115 million board feet annually.
GreenFirst Forest Products Sells Its Softwood Lumber Duty Refunds to Mahogany Investors
GreenFirst is selling its softwood lumber duty refunds to Mahogany Investors for US$17.5 million, Nothern Ontario Business reported.
US Construction Spending Unchanged in November
Total construction spending during November was estimated at $2,152.6 billion (SAAR), virtually unchanged from the revised October estimate of $2,152.3 billion.
Canadian Industrial Product and Raw Materials Price Indices for November
Prices for lumber and other wood products jumped 5.7%, marking the largest monthly increase since March 2022 (7.5%).
FHFA House Price Index Increases 4.5% Year-Over-Year in October
US house prices rose 0.4% in October, according to the FHFA’s seasonally adjusted House Price Index. Year-over-year, prices increased 4.5%.
US Mortgage Applications Drop During The Two-Week Period Ending December 27
Mortgage loan application volume declined 21.9% on a seasonally adjusted basis from two weeks earlier, MBA reported.