There were modest gains for custom-home builders in Q4, following a period of slight softening of market share, the Census Bureau and NAHB reported.
Wood Markets News
Cambium Introduces First CLT Product Made From Salvaged Wood
Cambium is launching Carbon Smart Wood for mass timber, the industry’s first CLT product made from salvaged wood.
Isle of Man Plantation Timber Harvesting to Begin in February
A timber harvesting operation is set to begin this month across Isle of Man plantations, marking a significant step in the island’s commercial forestry activities.
US Existing-Home Sales Decline 4.9% in January
Total existing-home sales declined 4.9% to a seasonally adjusted annual rate of 4.08 million in January, NAR reported.
Mortgage Applications for US New-Home Purchases Rise 19.0% in January
Mortgage applications for new-home purchases increased 19.0% in January, MBA reported. Year-over-year, mortgage applications declined 6.0%.
Millari Group Australia to Acquire Juken New Zealand’s Gisborne Facilities
Millari Group Australia has acquired Juken New Zealand’s manufacturing facilities in Gisborne, New Zealand, Australian Rural & Regional News reported.
US Housing Market Gained $2.5 Trillion in Value in 2024
The combined value of US homes gained $2.5 trillion (5.2%) in 2024 to reach $49.7 trillion, Redfin reported.
University of Michigan Releases Final Results of Its Consumer Sentiment Index for February
The University of Michigan Index of Consumer Sentiment fell to a reading of 64.7 in February, a month-over-month decline of 9.8%.
US Mortgage Rates Decline for Fifth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.85%, down from last week when it averaged 6.87%, Freddie Mac reported.
Canadian Industrial Product and Raw Materials Price Indices Rise in January
The IPPI rose 1.6% month-over-month, and the RMPI rose 3.7%.