A lack of existing inventory and pent-up demand is fueling single-family permit growth across all tracked geographic regions in the US, NAHB reported.
Wood Markets News
Mortgage Applications Decline in the Week Ending May 31st
Mortgage loan application volume decreased 5.2% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment Increased in May; Compensation Gains Steady
Private sector employment increased by 152,000 jobs in May and annual compensation gains held steady at 5.0% year-over-year, ADP reported.
Canadian Lumber Production and Shipment Data for March
In March, lumber production in Canada increased 1.0% to 4,397.3 thousand cubic meters. However, year-over-year, production was down 8.5%.
Robbins Lumber Company Sells Its Hancock, ME, Sawmill to Jordan & Sons; Property to Be Used for Other Purposes
Robbins Lumber Co. has reached an agreement with Elliott Jordan & Sons Inc. to sell its Hancock sawmill, which it acquired from Pleasant River Lumber Company in 2023.
US Construction Job Openings and Labor Turnover for April
Following an upwardly revised estimate of open construction employment in March (from 274,000 to 346,000), the April estimate shows a further decline to 338,000 jobs.
US Commercial Mortgage Delinquency Rate Increases in Q1
The Mortgage Bankers Association reported that according to its latest Commercial Delinquency Report, commercial mortgage delinquencies increased in Q1.
Western Washington University Expansion Includes Mass Timber Construction
Western Washington University is in the process of expanding its ABET-accredited programs for electrical engineering, computer engineering and science, and energy science.
US Job Openings and Labor Turnover Summary for April
As of the last business day in April, the number of job openings was 8.1 million, little changed from the 8.5 million reported in March.
US Monthly Construction Spending Declines 0.1% Month-Over-Month in April
Total construction spending during April was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% below the revised March estimate.