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.
Wood Markets News
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.
BTG Pactual TIG Marks Major Milestone in Latin America Reforestation Strategy
BTG Pactual Timberland Investment Group and Conservation International have reached a significant milestone in their Latin American reforestation strategy.
State-Level Construction Employment Data for March
30 states added construction jobs in March compared to February, the BLS and NAHB reported. Nationally, the construction industry added a net 13,000 jobs.
US New-Home Purchase Mortgage Applications Increase in March
Mortgage applications for new-home purchases increased 14.0% in March, MBA reported. Year-over-year, mortgage applications increased 5.5%.
US National Interagency Fire Center Wildfire Update as of April 18
There are a total of 8,594 acres burning and only 19 of the 31 large wildfires are partially contained.
US Housing Starts and Completions Decline in March; Permits Edge Up
Housing starts in March were at a seasonally adjusted annual rate of 1,324,000, 11.4% below the revised February estimate of 1,494,000.
US Homes Selling at Slowest Pace in Six Years
The typical US home that went under contract in March spent 47 days on the market, the longest for any March since 2019, Redfin reported.