Pending home sales fell 6.4% year-over-year in the four-week period ending March 2, Redfin reported.
Wood Markets News
US Mortgage Rates Continue to Decline in the Week Ending March 6
The 30-year fixed-rate mortgage averaged 6.63%, down from last week when it averaged 6.76%, Freddie Mac reported.
Profura Repurchases Two Zeigler Sawmills in Sweden
Profura has repurchased Green Wood Sverige AB, with its two sawmill subsidiaries Bäckebrons Sagverk AB and Balungstrands Sagverk AB, from the Zeigler Group.
UK’s James Donaldson Timber Expands, Adding a Manufacturing Facility
UK timber supplier James Donaldson Timber has leased a new 110,000-square-foot, purpose-built manufacturing facility in Chorley, UK.
US Private Sector Job Cuts Soar in February
US-based employers announced 172,017 job cuts in February, the highest total for the month since 2009, CG&C reported.
US Weekly Initial Jobless Claims Decline in the Week Ending March 1
The advance figure for seasonally adjusted initial unemployment claims was 221,000, a decrease of 21,000 from the previous week’s unrevised total.
BC’s Vienna House Showcases Mass Timber as a Solution to Affordable Multi-Family Housing
Vienna House explores and highlights mass timber as a solution to help alleviate the current shortage of affordable multi-family housing.
US Forest Service Offers Salvage Timber in North Carolina to Reduce Wildfire Risk
The Forest Service is offering contracts to remove downed but still commercially usable trees left by Hurricane Helene on 2,200 acres of the Pisgah National Forest.
Kronospan Acquires Sawmill in Sebes, Romania, From the Ziegler Group
Kronospan announced the acquisition of ZG Timber’s sawmill in Sebes, Romania, from the Ziegler Group, following the insolvency of Ziegler Holding in 2024.
Mortgage Applications Increase in the Week Ending February 28
Mortgage loan application volume increased 20.4% on a seasonally adjusted basis from one week earlier, MBA reported.