Prices for lumber and other wood products rose 3.1% March, following two months of declines.
Wood Markets News
US Home Price Growth Slows to Lowest Monthly Rate Since December 2022
US home prices ticked up 0.2% in March on a seasonally adjusted basis, the slowest monthly pace since December 2022, Redfin reported.
Investment in Canadian Building Construction Increases 1.5% in February
Investment in building construction rose 1.5% to C$22.4 billion in February, with gains recorded across all components.
Southern Pine Lumber Exports Rise 4.7% in February
Southern pine exports (both treated and untreated) in February were up 4.7% to 40.8 MMBF but remained 15% lower year-over-year, the USDA and SFPA reported.
US Mortgage Loans in Forbearance Trend Lower in March
As of March 31, the total number of loans in forbearance declined 2 basis points from 0.38% of servicers’ portfolio volume in the prior month to 0.36%, MBA reported.
Cincinnati Public Radio Completes New Mass Timber Facility
Cincinnati is now home to the first mass timber broadcast facility in the US, a 35,000-square-foot, $32-million headquarters for Cincinnati Public Radio, according to Radio Ink.
The Conference Board US Leading Economic Index Continues to Fall in March
The Conference Board Leading Economic Index declined 0.7% to 100.5 in March, after a revised decline of 0.2% (originally 0.3%) in February.
US Home Sellers Gave Concessions in 44% of Sales in Q1
US home sellers gave concessions to buyers in 44.4% of home-sale transactions in Q1, Redfin reported.
New Transit Facility Brings Mass Timber to Northern Arizona
Flagstaff, Arizona’s new Downtown Connection Center will introduce mass timber construction to Northern Arizona for the first time, the Engineering News-Record reported.
US Single-Family Home Price Growth Holds Steady in Q1
The Fannie Mae Home Price Index increased 5.2% year-over-year in Q1, largely unchanged from the previous quarter’s 5.3% growth.