The Canadian New Housing Price Index was unchanged month-over-month but down 0.4% year-over-year in March.
Wood Markets News
Rayonier Announces Sale of 115,250 Acres of Timberland in Washington
Rayonier is selling 115,250 acres of timberland in Washington that it has owned for almost 80 years, the Peninsula Daily News reported.
Canadian Investment in Building Construction Declines in February
Investment in Canadian building construction declined 1.1% month-over-month to $19.3 billion in February.
Europe’s Pfeifer Group Optimizing Facilities to Meet Market Demand
Pfeifer Group has optimized manufacturing at its sawmill in Chanovice, Czech Republic, and its CLT facility in Schlitz, Germany, according to the Timber Trades Journal.
US Median Home Sales Price Increases 5% Year-Over-Year—Just Shy of All-Time High
The median price increased 5% year-over-year to $380,250, just $3,095 shy of the all-time high in June 2022.
State-Level Analysis of Construction Sector Employment for March
36 states and DC saw month-over-month gains in March, the BLS and NAHB reported. Overall, the industry added a net 39,000 jobs.
30-Year Fixed-Rate Mortgages Surpass 7%
The 30-year fixed-rate mortgage averaged 7.10%, up from last week when it averaged 6.88%, Freddie Mac reported.
US Existing-Home Sales Decline Month-Over-Month and Year-Over-Year in March
US existing-home sales fell 4.3% month-over-month in March to a seasonally adjusted annual rate of 4.19 million, NAR reported.
The Conference Board US Leading Economic Index® Declines Unexpectedly in March
The Conference Board Leading Economic Index® (LEI) decreased 0.3% in March, following a 0.2% increase in February.
Western Australia Releases Forest Management Plan 2024–33 With Help to Alleviate End of Native Logging
Western Australia’s Forest Management Plan 2024–33 will be bolstered with a $67.2 million (AUD) investment over the next four years.