Woodworking Industry News

New home sales down in April

Mortgage rates that averaged above 7% since mid-April per Freddie Mac data acted as a drag on new home sales last month, according to a new National Association of Home BuildersSales of newly built, single-family homes in April fell 4.7% to a 634,000 seasonally adjusted annual rate from a downwardly revised reading in March, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in April is down 7.7% from a year earlier.

Wood Veneer

Hardwood veneer mill to reopen after state-of-the-art upgrade

West Point Veneer LLC, a wholly owned subsidiary of Coldwater Veneer Incorporated that supplies quality veneer products around the world, plans to invest $2.5 million to reactivate its former manufacturing facility in the Town of West Point to increase capacity to meet the growing demand in the global wood veneer market.