US existing-home sales fell 1.7% month-over-month and 2.9% year-over-year on a seasonally adjusted basis, Redfin reported.
Wood Markets News
US Residential Building Materials Prices Little Changed in May
Inputs to residential construction, goods less food and energy, declined 0.09% in May, the BLS and NAHB reported.
Associated Builders and Contractors Construction Backlog Indicator Declines in May
The ABC Construction Backlog Indicator declined to 8.3 months in May. Year-over-year, the indicator is down 0.6 months.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for June
The University of Michigan’s Index of Consumer Sentiment declined to a reading of 65.6 in June. This is a month-over-month decline of 5.1% but up 2.2% year-over-year.
Maine’s College of the Atlantic Dedicates Second Mass Timber Building
The College of the Atlantic, located in Bar Harbor, Maine, recently completed and dedicated a second mass timber structure on its campus, Mainebiz reported.
Conifex Timber Announces Two-Week Curtailment at Its BC Sawmill
Conifex Timber is curtailing its sawmill and planer for a period of two weeks starting on Monday, June 17th. The reduced schedule will impact production by 8,500 Mfbm.
Fixed-Rate Mortgages Decline Further in the Week Ending June 13th
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.99%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Trend Higher in May
Mortgage applications for new-home purchases increased 1.0% month-over-month and 13.8% year-over-year, MBA reported.
Canada’s Mass Timber Roadmap Unveiled at Parliament Hill
The comprehensive report outlines an ambitious and strategic vision for the future of mass timber in Canada and its potential to transform green construction and drive economic growth across the country.
US Producer Price Index for Final Demand Declines 0.2% Month-Over-Month in May
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.2% in May. This follows a 0.5% increase in April and a 0.1% decline in March.