IS A SURPRISE AHEAD NEXT WEEK FOR THE HOUSING MARKET? A mostly hum-drum week in the lumber market has traders focused on next week, as Wednesday brings us November’s HMI (Housing Market Index). With a low-bar expectation of 36, we shall see if the weighted average of present and future sales, combined with buyer traffic, brings any hope for the struggling sector. Additionally, October Housing Starts and Permits will be released Thursday, with declines expected in both categories. Finally, as mortgage rates hover in the high 6 to low 7% range, it will be interesting to see what pans out, as a dose of “hopium” may be needed for surprise reports. Enough for the small talk, as let’s cut to the chase and jump right in and check out what transpired this past week in the place I like to call: ‘The Wonderful World of Wood”. Enjoy…

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