As of Tuesday, September 3rd, 51 large active wildfires are being managed with full suppression strategies nationwide. Current fires have burned 1,777,297 acres.
Wood Markets News
Mortgage Application Payments Trend Lower in July
MBA’s national Purchase Applications Payment Index decreased 1.9% to a reading of 167.7 in July.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in July
The value of Brazilian exports of wood-based products (except pulp and paper) increased 9.9% year-over-year in July, the ITTO reported.
Züblin Developing Timber Modular System at the Stuttgart University of Applied Sciences
Züblin’s timber modular construction system “Eco-Box” is under development in collaboration with the University of Applied Sciences in Stuttgart, Germany, Construction Briefing reported.
PotlatchDeltic Completes Waldo, AR, Sawmill Modernization Project
PotlatchDeltic announced that it has completed the planned downtime at its Waldo, Arkansas, sawmill to tie-in equipment for the modernization and expansion project.
BC Sets New Allowable Annual Cut Level for Area Located Northwest of Squamish
The new AAC is 117,500 cubic meters. This is a reduction from the previous AAC, while remaining well above the average annual harvest level since the last AAC determination.
Increasing Cost of Starter Homes Pushing Many Potential Homebuyers Out of the Market
Homebuyers must earn $79,252 annually to afford the typical starter home, up 4.4% year-over-year and just a few hundred dollars shy of last October’s all-time high, Redfin reported.
MBA Updates Baseline Forecast for Commercial and Multifamily Borrowing
MBA said it expects total commercial and multifamily mortgage borrowing and lending to finish the year at $539 billion, a 26% increase from $429 billion in 2023.
US Bureau of Economic Analysis Reports Personal Income and Outlays for July
Personal income increased 0.3% at a monthly rate in July; disposable personal income increased 0.3%; personal consumption expenditures increased 0.5%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for August
The Index of Consumer Sentiment rose to a reading of 67.9 in August, up from 2.3% from July.