The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined for the fourth straight month in a row failing -0.3% in December to a reading of 125.5.
Wood Markets News
Södra’s CLT Can Reduce Carbon Emissions by Up to 80% When Compared to Traditional Concrete Framing
The frame of a building normally has the greatest impact on the climate. On average the frame of a four to eight story apartment building will account for 45% of the building’s climate footprint.
Rising Lumber Prices and Home Building Surge have Buyers in a Purchase or Do Without Predicament
With lumber prices once again on the rise, construction companies, along with pro dealer lumber yards have reverted back to purchasing hand to mouth – just enough to get by and little more.
Gross Domestic Product Increases in Q4 2020 but Year-Over-Year Declines -3.5%
According to the “advanced” estimate released today (1-28-21) by the U.S. Bureau of Economic Analysis real gross domestic product (GDP) increased at an annual rate of 4% in Q4 of 2020.
Mortgage Rates Move Lower Again in Week Ending January 28th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending January 28th, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.73% with an average 0.7 point, down from last week when it averaged 2.77%.
New Single-Family Residential Home Sales Increase in December 2020 and Year-Over-Year
The U.S. Census Bureau has reported new residential single-family home sales for December 2020 were at a SAAR of 842,000, according to estimates.
Weekly Jobless Claims Decline in the Week Ending January 23rd, 2021
The U.S. Department of Labor is reporting that an additional 847,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, January 23rd.
China and New Zealand Sign Updated Free-Trade Agreement
It has taken over eight years and thirty rounds of negotiations, but the New Zealand government has just signed what has been called the world’s largest free-trade agreement with China. The new agreement offers several New Zealand goods faster access to Chinese markets and a reduction in tariffs on paper and wood products.
Vinkovci, Croatia, based DI Spačva Timber Company Announces Prospective Buyers Have Started Due Diligence on the Company
DI Spačva, a timber company, based in Vinkovci, Croatia, has announced that prospective buyers have started conducting their due diligence on the company. DI Spačva consists of five factories: a sawmill, a parquet production plant, a final products factory, a veneer factor, and a bio-fuels factory.
Bureau of Labor Statistics Reports Unemployment Held Steady at 6.7% in December
The U.S. Bureau of Labor Statistics (BLS) is reporting that unemployment rates were lower in December in 19 states, higher in 12 states and the District of Columbia, and stable in 19 states. Forty-five states and the District had jobless rate increases from a year earlier, one state had a decrease, and four states had little or no change.