The Softwood Lumber Board (SLB) has announced that Nick Milestone, has joined the SLB to support its mission in the area of strategic partnership and adoption of mass timber construction in the U.S. Milestone is a veteran of the European and United Kingdom mass timber markets and is the current chairman of the Timber Research and Development Trade Association (TRADA).
Wood Markets News
Housings Impact on the GDP in Q3 2020
According to the ‘advance’ estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Builder Confidence in the 55+ Single-Family Housing Market Reaches New Record High in Q3 2020
The National Association of Home Builders (NAHB) is reporting that builder confidence in the single-family 55+ housing market reached an all time high in Q3 of 2020, rising 18 points to a reading of 83.
U.S. Consumer Confidence at Lowest Point Since August
According to data released on Thursday (10/29) the Bloomberg Consumer Comfort Index (CCI), a weekly measure of U.S. consumer confidence, fell to a reading of 46.3 last week on a zero to 100 scale.
Oregon’s Private Landowners Face Long Road to Recovery After 2020 Wildfire Season
According to the Oregon Department of Forestry, more than a million were charred across the state during the 2020 fire season, including 374,353 acres of private industrial and on-industrial land.
FEA’s Weekly Order Survey Participants Report a Slight Uptick in Jobsite Sales Activity
Dealers responding to FEA’s Weekly Order Survey noted a slight uptick in their jobsite sales activity. As the calendar moves into November, builders, especially in the northern tier, are rushing to get jobsites under roof and prepared for the onset of more winterlike weather.
Bureau of Economic Analysis Reports Real Gross Domestic Product at an Annual Rate of 33.1% in Q3
According to the ‘advance’ estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Mortgage Rates Hold at Near Record Low Levels in Week Ending October 29th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 29th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.81% with an average 0.7 point, up slightly from last week when it averaged 2.80%.
Weekly Jobless Claims Decline in the Week Ending October 24th, 2020
The U.S. Department of Labor is reporting that an additional 751,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 24th.
Pending Homes Sales Experience Minor Decline in September
The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is a leading indicator of housing activity and is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined in September to a reading of 130.0.