Residential building construction costs increased 0.8% in Q2, following a 1.0% increase in Q1. Nonresidential building construction costs rose 1.1%, following a 1.0% increase in Q1.
Wood Markets News
US Wood Pellet Exports Decline in June
The US exported 739,277.2 metric tons of wood pellets in June, down from 926,024.1 metric tons in May, a Biomass Magazine review of USDA data shows.
Mortgage Credit Availability in July Reaches Highest Level Since October 2023
The MBA Mortgage Credit Availability Index increased by 3.3% to a reading of 98.1 in July.
Credit for Residential Land Acquisition, Development, and Construction Tightens in Q2
Credit for residential AD&C continued to tighten in Q2 and became even more expensive for most types of loans, NAHB reported.
Canadian Employment and Unemployment Remained Little Changed in July
Overall employment was little changed in July. The employment rated declined 0.2 percentage points to 60.9%.
Splatsin and Tolko Sign a Renewed Relationship Agreement
Splatsin te Secwépemculucw (Splatsin) and Tolko Industries announced the signing of a renewed relationship agreement, which serves to support and advance their long-standing partnership built upon mutual trust and respect.
30-Year US Mortgage Rate Falls to 15-Month Low
The 30-year fixed-rate mortgage averaged 6.47%, down from last week when it averaged 6.73%, Freddie Mac reported.
US Weekly Initial Jobless Claims Drop in the Week Ending August 3rd
The advance figure for seasonally adjusted initial unemployment claims was 233,000, a decrease of 17,000 from the previous week’s revised level.
Total Value of US Homes Reaches Record High of $49.6 Trillion
On Thursday, Redfin reported that according to its data, the total value of US homes gained $3.1 trillion over the past 12 months to reach a record $49.6 trillion.
US Multifamily Developer Confidence in Q2 Declines Year-Over-Year
The NAHB produces two separate indices: The Multifamily Production Index had a reading of 44, a decrease of 12 points year-over-year, while the Multifamily Occupancy Index had a reading of 81, falling 8 points year-over-year.