The NAR Pending Homes Sales Index increased 4.8% month-over-month to a reading of 74.3. Year-over-year, pending homes sales were down 2.6%.
Wood Markets News
US Construction Sector Job Openings Fall in June
The number of open construction sector jobs shifted notably lower, falling from 366,000 positions in May to 295,000 positions in June, the BLS and NAHB reported.
Mortgage Applications Decline in the Week Ending July 26th
Mortgage loan application volume decreased 3.9% on a seasonally adjusted basis from one week earlier, MBA reported.
Private Sector Employment Increases While Compensation Growth Slows in July, ADP® Reports
Private sector employment increased by 122,000 jobs in July, ADP reported. Year-over-year, compensation was up 4.8%.
Canadian Real GDP Increases 0.2% in May
Real GDP grew 0.2% in May, following a 0.3% increase in April. Goods-producing industries were up 0.4% and were the main contributor to the overall growth.
Paris Summer Olympics Structures Aim to Reduce Carbon Footprint by Utilizing Mass Timber
The Paris 2024 Summer Olympics built many of its facilities to be sustainable, as the city aims to reduce the Games’ carbon footprint, Woodworking Network reported.
Ontario to Invest C$3.46 Million in Element5, Tripling Its Mass Timber Production
Ontario is investing $3.46 million (CAD) in Element5 to help the mass timber manufacturer expand its operations. The funding will more than triple the company’s production.
FHFA Home Price Index Unchanged Month-Over-Month but Up Year-Over-Year in May
US house prices, seasonally adjusted, remained stable in May. Year-over-year, prices rose 5.7%. The previously reported 0.2% price increase in April was revised upward to 0.3%.
S&P CoreLogic Case-Shiller US National Home Price Index Reports 5.9% Annual Gain in May
The Index, covering all nine US census divisions, posted an annual gain of 5.9%, down from a 6.3% gain in April.
Forestry Australia Proposes Expanding Carbon Credits to Native Forests to Help Meet Targets
The initiative would expand carbon credits across all native forest tenures, including state forests, private native forests, forests managed by Traditional Owners, national parks, and conservation reserves.