Total construction spending during June was estimated at a SAAR of $2,148.4 billion, 0.3% below the revised May estimate of $2,154.8 billion.
Wood Markets News
US Census Bureau Releases Q2 Residential Vacancies and Homeownership Data
The homeowner vacancy rate of 0.9% was higher than 0.7% in 2023Q2 and higher than 0.8% in Q1.
Fixed-Rate Mortgages Trend Lower in the Week Ending August 1st
The 30-year fixed-rate mortgage averaged 6.73%, down from last week when it averaged 6.78%, Freddie Mac reported.
Perth, Australia, Office Building Uses First Fully Demountable CLT and Steel Frame System
One of Australia’s greenest and most cost-efficient buildings is open for business, according to a feature by Wood Central.
Private Sector Job Cuts Decline Further in July
US-based employers announced 25,885 job cuts in July, down from 48,786 in June, Challenger, Gray & Christmas reported.
US Weekly Initial Jobless Claims Increase in the Week Ending July 27th
The advance figure for seasonally adjusted initial employment claims was 249,000, an increase of 14,000 from the previous week’s unrevised level.
US Pending Home Sales Increase 4.8% in June
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%.
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%.