New residential single-family home sales for May were at a SAAR of 619,000, according to estimates. This is 11.3% below the revised April rate of 698,000.
Wood Markets News
State-Level Analysis of Construction Sector Employment for May
Overall, the construction industry added a net 21,000 jobs in May, and 26 states reported month-over-month employment gains, the BLS and NAHB reported.
European Wood-Based Panel Production Declined 6.3% in 2023
The European Panel Federation said European wood-based panel production declined by a “disappointing” 6.3% in 2023, Timber Trades Journal reported.
Mortgage Applications Increase in the Week Ending June 21st
Mortgage loan application volume increased 0.8% on a seasonally adjusted basis from one week earlier, MBA reported.
Two New South Australia Colleges to Be Built With Materials From Timberlink’s NeXTimber Facility
The South Australia government has announced that the state’s two new technical colleges will be built with South Australian-sourced timber from Timberlink Australia’s new NeXTimber facility, Australian Rural & Regional News.
FHFA Home Price Index Increases in April
According to the FHFA HPI, US house prices increased 0.2% month-over-month in April, seasonally adjusted. Year-over-year, house prices climbed 6.3%.
S&P CoreLogic Case-Shiller US Home Price Index Reports 6.3% Annual Gain in April
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 6.3% in April, following a 6.5% gain in March.
US Consumer Confidence Index Declines in June
The Conference Board Consumer Confidence Index® (CCI) declined to a reading of 100.4 (1985=100) in June, down from 101.3 in May.
Share of Mortgage Loans in Forbearance Inches Lower in May
The total number of loans in forbearance as of May 31st was 0.21% of servicers’ portfolio volume, according to the Mortgage Bankers Association.
Canadian Consumer Price Index Inches Higher in May
The Canadian Consumer Price Index (CPI) increased 2.9% year-over-year in May, up from a 2.7% gain in April.