Construction sector employment (both residential and nonresidential) increased in 26 states in December. Overall, the industry added a net 8,000 jobs.
Wood Markets News
US Mortgage Applications Decline in the Week Ending January 24
Mortgage loan application volume decreased 2.0% on a seasonally adjusted basis from one week earlier, MBA reported.
CN and IBEW of Canada Reach Tentative Agreement, Averting Strike
CN and the International Brotherhood of Electrical Workers of Canada have reached a tentative agreement on a contract, averting a strike slated to begin Tuesday, FreightWaves reported.
FHFA House Price Index Rises 4.2% Year-Over-Year in November
FHFA reported that according to its seasonally adjusted House Price Index, US home prices rose 0.3% in November. Year-over-year, prices rose 4.2%.
Russia’s VLP Group to Invest $20 Million in Its Sawmill in Novgorod Oblast
Russia’s VLP Group will invest more than 2 billion rubles (US$20.4 million) to modernize its sawmill in Malaya Vishera, Novgorod Oblast. The facility was acquired from the Hasslacher Group in 2023.
US Consumer Confidence Index Declines for Second Consecutive Month in January
The Consumer Confidence Index declined 5.4 points to a reading of 104.1 in January. December’s reading was revised up by 4.8 points to a reading of 109.5.
S&P CoreLogic Case-Shiller Index Reports 3.8% Annual Gain in US Home Prices in November
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 3.8% in November, up from a gain of 3.6% in October.
Microsoft Building Two Hybrid Mass Timber Data Centers in Virginia
Architecture studio Gensler and structural engineer Thornton Tomasetti have designed a pair of hybrid CLT data centers that are currently under construction in Virginia for Microsoft, according to a feature by dezeen.
US New Residential Single-Family Home Sales Increase 3.6% in December
New residential single-family home sales for December were at a seasonally adjusted annual rate of 698,000.
CN Prepares for Rail Strike After Electrical Workers Issue 72-Hour Notice
CN is bracing for a work stoppage starting on Tuesday, January 28, after 750 members of the IBEW in Canada issued a 72-hour strike notice, FreightWaves reported.