According to Redfin, a Seattle based technology-powered residential real estate company, the number of homes for sale declined for the twelfth-straight month in July, plunging near 20% to just 1.9 million homes – the lowest level of any month of July on record.
Wood Markets News
Kalesnikoff Mass Timber Selected Use at Three Canadian Educational Institutional Projects
Kalesnikoff, North America’s most advanced, vertically integrated, multi-species mass timber manufacture, located in Castlegar British Columbia, Canada, has announced three new mass timber projects at Canadian educational institutions.
Resolute Forest Products Thunder Bay Sawmill Passes Four Billion Board Feet of Processed Construction Grade Lumber Milestone
Resolute Forest Products, Thunder Bay sawmill has just passed an important milestone.
Mortgage Rates Inch Higher But Still Remain Below 3% in Week Ending 3rd September 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 3rd September 2020.
Redfin Reports Housing Sales and Home Prices Continue to Grow
According to Redfin, the Seattle-based real estate brokerage, for the four-week period ending August 23rd, the U.S. housing market experience strong sales and price growth, with the seasonally adjusted Redfin Homebuyer Demand Index (RHDI) up 29% from pre-pandemic levels in January and February.
Employers Announce 115,762 Job Cuts in August
According to Challenger, Gray & Christmas, Inc., a Chicago-based global outplacement and business executive coaching firm, job cuts announced by U.S.-based employers in August totaled 115,762.
Weekly Jobless Claims Dip Below 1 million in the Week Ending 29th August 2020
The U.S. Department of Labor is reporting that an additional 881,000* Americans made their initial filing for unemployment benefits during the week ending on Saturday August 29th.
Canfor Subsidiary, Vida Group, Completes Purchase of Strategic Assets
Originally announced on June 17th 2020, Canfor Corporation reported on Tuesday (9/1) that its 70%-owned subsidiary, Vida Group, has completed the purchase of three sawmills located in Sweden from Bergs Timber.
ADP Reports Private Sector Employment Increased by 428,000 Jobs in August
According to the August ADP National Employment Report® nonfarm private sector employment increased by 428,000 jobs from July to August.
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.