The NAR Pending Homes Sales Index increased 6.1% to a reading of 76.5 in March. Year-over-year, sales were down 0.6%.
Wood Markets News
EFM and Sojitz Launch Climate-Smart Forestry and Carbon Fund
EFM and Sojitz Corporation will establish a $200 million forestry investment fund to generate high-integrity carbon credits and promote climate-smart forest stewardship across the US.
Mass Timber+ Conference Heads to Boston
Mass Timber+ will bring together suppliers, buyers, and specifiers in wood-based offsite construction this October in Boston.
US Mortgage Applications Decline in the Week Ending April 25
Mortgage loan application volume declined 4.2% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian GDP Declines in February, Offsetting January’s Gains
Canadian real GDP contracted 0.2% in February, partly offsetting January’s 0.4% increase.
ADP Reports Private Sector Employment and Compensation Both Increased in April
Private sector employment increased by 62,000 jobs in April, down from a 155,000 gain in March, ADP reported.
Michigan DNR to Sell Storm-Damaged Timber to Reduce Beetle Infestation and Wildfire Risk
The Michigan Department of Natural Resources will issue salvage timber sales due to the ice storm in March that affected 919,500 acres.
Fannie Mae Adjusts Housing Activity Forecast
The ESR Group expects new single-family construction to total approximately 964,000 units this year.
US Consumer Confidence Plunges in April, Extending Five-Month Decline
The Conference Board Consumer Confidence Index declined 7.9 points to a reading of 86.0, the lowest level since the onset of the pandemic.
US Construction Sector Job Openings Drop in March
The number of open construction sector jobs fell from a revised 286,000 in February to 248,000 in March, the BLS and NAHB reported.