The Conference Board Leading Economic Index® decreased 0.5% to a reading of 101.2 in May, following a 0.6% decrease in April.
Wood Markets News
US Existing-Home Sales Decline in May
Total existing-home sales declined 0.7% in May from April to a seasonally adjusted annual rate of 4.11 million, MBA reported.
US Housing Starts, Building Permits, and Completions All Drop in May
Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000. This is 5.5% below the revised April estimate of 1,352,000.
Tafisa’s Particleboard Facility in Lac-Mégantic, QC, Rocked by Explosion
An explosion occurred on Friday, June 14th at the Tafisa particleboard facility in Lac-Mégantic, Quebec, Woodworking Network reported.
Fixed-Rate Mortgages Decline in Week Ending June 20th, Marking Third Consecutive Drop
The 30-year fixed-rate mortgage averaged 6.87%, down from last week when it averaged 6.95%, Freddie Mac reported.
Canadian Government to Support Ontario’s Forest Restoration and Nursery Sector
The investment is aimed at enhancing forest restoration efforts in Ontario and supporting the tree nursey sector through its 2 Billion Trees program, Canadian Forest Industries reported.
Canadian New-Home Prices Increase for Second Consecutive Month in May
The national index increased 0.2% month-over-month in May, and prices were up in 10 of the 27 census metropolitan areas (CMAs) surveyed.
Canadians Receiving Employment Insurance Benefits Declines in April
456,000 Canadians received regular Employment Insurance (EI) benefits in April. This is down 2.8%, or 13,000 recipients, from March.
US Weekly Jobless Claims Inch Lower in the Week Ending June 15th
The advance figure for seasonally adjusted initial unemployment claims was 238,000, a decrease of 5,000 from the previous week.
US Housing Deficit Grows to 4.5 Million Homes in 2022, Zillow Reports
New analysis from Zillow released on Tuesday shows that, despite a construction boom brought on by the pandemic, the US housing shortage grew to 4.5 million homes in 2022, up from 4.3 million in 2021.