The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 2 points to a reading of 39 in August.
Wood Markets News
Canadian Home Sales Activity Slows Month-Over-Month in July
Home sales activity posted a 0.7% decline between June and July, CREA reported.
US Fixed-Rate Mortgages Creep Higher in the Week Ending August 15th
The 30-year fixed-rate mortgage averaged 6.49%, up from last week when it averaged 6.47%, Freddie Mac reported.
Investor Home Purchases Back on Track in Q2, Posting Biggest Gain in Two Years
Redfin reported that investors purchased $43 billion worth of homes in Q2—up 13.7% from a year earlier and the biggest gain in two years.
Multifamily Lending Declines 49% Year-Over-Year in 2023
In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, MBA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending August 10th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 7,000 from the previous week’s revised level.
US Dept. of Commerce Releases Final Determinations in Fifth Administrative Review of Duties on Certain Softwood Lumber Products From Canada
The US Department of Commerce released its final determinations for the fifth Administrative Review in the antidumping and countervailing duty investigations of imports of certain softwood lumber products from Canada.
Michigan Forestry Companies Merge to Manage 550,000 Acres Across Michigan and Wisconsin
Two Michigan forestry companies, Green Timber Consulting Foresters and Grossman Forestry Company, announced that they are merging.
US Residential Building Materials Costs Decline in July
The seasonally adjusted PPI for softwood lumber fell 1.04% in July, after rising 3.29% in June.
US Consumer Price Index Increases 2.9% Year-Over-Year in July
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, after declining 0.1% in June.