Expectations of the Federal Reserve beginning the first in a series of rate reductions kept potential home buyers in a holding pattern in August.

According to the National Association of Home Builders and Wells Fargo Housing Market Index, builder confidence increases by two points, breaking a string of four consecutive monthly declines.

A lack of resale homes and pent-up demand has offset high mortgage rates and contributed to single-family permit growth across all regions in the second quarter. Multifamily permits continue to slide downward.

The market is estimated to grow over 5.27% between 2024-2028.

The Federal Reserve's Industrial Production and Capacity Utilization report provides an overview of industrial production and capacity utilization for major market and industry groups within the industrial sector.

Homeowners and renters are struggling with the high housing costs in 2024. The US home price index is now 47 percent higher than in early 2020, pushing the median sales price to about five times the median household income.

Construction input prices decreased 0.9% in May compared to the previous month, according to an Associated Builders and Contractors analysis.

Ipe Wood USA, a business-to-consumer of Ipe wood based in the United States, has raised concerns over the changes impacting their operations.

Projections indicate the market will reach US$ 655.6 million by 2032, demonstrating an expected compound annual growth rate (CAGR) of 15.5% from 2023 to 2032.

Torres will host this Urban Wood Network webinar series every second Wednesday of every month at 1-2 p.m. EST.