The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 6 points in May.
Wood Markets News
Mortgage Applications Rise in the Week Ending May 10th—Second Consecutive Increase
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Existing-Home Sales Decline Month-Over-Month in April, but Listings Increase
Home sales recorded over Canadian MLS® Systems declined 1.7% between March and April, coming in a little below the 10-year average, CREA reported.
Domain Timber Advisors Aquires Five New Assets Totaling 5,800 Acres for Its Forestland Portfolio
Domain Capital Group and its subsidiary Domain Timber Advisors announced the acquisitions of five new assets totaling 5,800 acres on behalf of its forestland portfolio.
Metsä Group Completes Sale of Russian Subsidiaries to VLP Group
Metsä Group has completed a transaction in which the ownership in the group’s four Russian subsidiaries has transferred to VLP Group.
US Producer Price Index for Final Demand Increases in April
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in April. This follows a 0.1% decline in March and an advance of 0.6% in February.
US Building Materials Costs in Residential Construction a Mixed Bag in April
The prices of goods used in residential construction, less energy, increased for the sixth consecutive month in April, the BLS and NAHB reported.
Mortgage Applications for New Home Purchases Move Higher in April
Mortgage applications for new-home purchases increased 22.1% month-over-month and 2.0% year-over-year, MBA reported.
NFIB Small Business Optimism Index Inches Higher in April, but Remains Below 50-Year Average
The NFIB Small Business Optimism Index increased 1.2 points in April to a reading of 89.7, the first increase of 2024 but the 28th consecutive month below the 50-year average.
Teal Jones-Plain Dealing Sawmill in Louisiana Unaffected by Teal Jones Group Filing for Creditor Protection in BC
Teal Jones-Plain Dealing, LLC explained that the decision by Teal Jones Group to file for creditor protection in BC does not include the US-based Teal Jones Sawmill in Plain Dealing, LA.