A timber harvesting operation is set to begin this month across Isle of Man plantations, marking a significant step in the island’s commercial forestry activities.
Wood Markets News
US Existing-Home Sales Decline 4.9% in January
Total existing-home sales declined 4.9% to a seasonally adjusted annual rate of 4.08 million in January, NAR reported.
Mortgage Applications for US New-Home Purchases Rise 19.0% in January
Mortgage applications for new-home purchases increased 19.0% in January, MBA reported. Year-over-year, mortgage applications declined 6.0%.
Millari Group Australia to Acquire Juken New Zealand’s Gisborne Facilities
Millari Group Australia has acquired Juken New Zealand’s manufacturing facilities in Gisborne, New Zealand, Australian Rural & Regional News reported.
US Housing Market Gained $2.5 Trillion in Value in 2024
The combined value of US homes gained $2.5 trillion (5.2%) in 2024 to reach $49.7 trillion, Redfin reported.
University of Michigan Releases Final Results of Its Consumer Sentiment Index for February
The University of Michigan Index of Consumer Sentiment fell to a reading of 64.7 in February, a month-over-month decline of 9.8%.
US Mortgage Rates Decline for Fifth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.85%, down from last week when it averaged 6.87%, Freddie Mac reported.
Canadian Industrial Product and Raw Materials Price Indices Rise in January
The IPPI rose 1.6% month-over-month, and the RMPI rose 3.7%.
The Conference Board US Leading Economic Index Trends Lower in January
The Conference Board Leading Economic Index declined 0.3% to a reading of 101.5 (2016=100) in January, after a 0.1% increase in December.
Fannie Mae ESR Group Releases February Commentary
According to the ESR Group, incoming GDP, labor market, and inflation data point to an economy that entered 2025 with strong momentum.