As of April 26th, 10 new large wildfires were reported during the week. Currently, 4 large uncontained wildfires are burning in Arizona, Colorado, and Virigina.
Wood Markets News
A Tour of Mercer Mass Timber’s Conway, AR, Manufacturing Facility
Mercer Mass Timber has offered a profile of its 283,000-square-foot mass timber manufacturing facility in Conway, Arkansas.
US Median Existing-Home Sales Price Up 5.2% Year-Over-Year in April; Hits Record High
Redfin reported that in the four-week period ending April 21st, the median existing-home sales price hit a record $383,725, up 5.2% from a year earlier.
Mortgage Application Payments Inch Higher in March
The MBA’s Purchase Applications Payment Index rose 0.8% to a reading of 174.2 in March, up from February’s reading of 172.8.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in March
Personal income increased 0.5% month-over-month in March; disposable personal income increased 0.5%; and personal consumption expenditures increased 0.8%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for April
The University of Michigan Index of Consumer Sentiment declined to a reading of 77.2 in March, a month-over-month decline of 2.8% but up 21.2% year-over-year.
GP’s Albany, GA, Lumber Mill Produces 1 Billion Board Feet in Just Four Years
Georgia-Pacific’s Albany, Geogia, sawmill produced its 1 billionth board foot of lumber just four years after the facility opened in 2020.
US Pending Home Sales Climb 3.4% in March
The National Association of Realtors Pending Homes Sales Index was 3.4% higher in March, rising to a reading of 78.2.
Fixed-Rate Mortgages Continue to Trend Higher in the Week Ending April 25th
The 30-year fixed-rate mortgage averaged 7.17%, up from last week when it averaged 7.10%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 1.6% in Q1, BEA Reports in Its “Advance” Estimate
GDP increased at an annual rate of 1.6% in Q1, following a reported real GDP increase of 3.4% in 2023Q4.