According to the August ADP National Employment Report® nonfarm private sector employment increased by 428,000 jobs from July to August.
Wood Markets News
Home Building Shifts from Big Cities to Small Metro Areas and Exurbs in Q2 2020
The Home Building Geography Index (HBGI) developed by the National Association of Home Builders (NAHB) reported that while the pandemic had an extensive impact on many businesses, housing has been able to weather the economic storm, rebounding quickly from its April slump.
Logistics Managers’ Survey Index Climbs Higher in July
According to the recently released Logistics Managers’ Index (LMI), which is a survey of leading logistics executives, transportation capacity declined to a 22-month low in July.
Residential Construction Loan Volumes Decreased in Q2 2020
The volume of residential construction lending posted a slight decline during Q2 2020. The decline is in step with a significant drop for the NAHB/Wells Fargo Housing Market Index and a 24% drop in single-family starts during the quarter.
Mortgage Applications Rate Declines for Third Week in a Row
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending August 28th, 2020, the Market Composite Index decreased -2.0% on a seasonally adjusted basis from one week earlier.
Weyerhaeuser Company Announces Enhancements to Their Oregon Timberland Holdings
Weyerhaeuser Company announced today that it has entered into two distinct agreement to purchased timberland from and sell timberlands to funds managed by Hancock Natural Resources, a Manulife Investment Management company.
Alabama Forest Owners to Receive Relief from CARES Act
The Alabama Farmers Federation and Alabama Treasure Forest Association (AFTA) are the recipients of a $10 million in state coronavirus relief to help forest owners impacted by the pandemic.
Consumer Confidence in Canada Shows Signs of Slowing
According to the Bloomberg Nanos Canadian Confidence Index (CCI), Canada’s quick initial rebound in consumer confidence is showing signs of slowing, the most recent indicator to suggest there is a long road ahead for a full economic recovery from the pandemic.
Construction Spending Up Fractionally in July but Up 4% Year-Over-Year July 2019 to July 2020
The U.S. Census Bureau has announced that construction spending during July 2020 was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1% above the revised June estimate of $1,362.8 billion.
Mortgage Loans in Forbearance Remain Unchanged at 7.20% for Week Ending 8-23-2020
The Mortgage Bankers Association (MBA) is reporting the results of their latest Forbearance and Call Volume Survey for the week ending August 23rd. The survey is reporting that the total number of loans now in forbearance remained unchanged relative to the prior week at 7.20% as of August 23, 2020.