A self-sealing furring nail has a nail and a furring wad assembly. The furring wad assembly includes a plunger friction fit on the nail and a housing friction fit on a shaft of the plunger at one end of the housing, and at the other end of the housing there is a gap between the housing and the nail. The activating surface of the plunger is located within the housing, and the plunger's shaft extends from within the housing outside of the housing towards the nail head. The housing has a package of sealant material inside. The package has a sealant encased within a burstable bag. When the furring nail is driven through building paper into a frame of a building, the head of the nail contacts the plunger's shaft causing the plunger's activating surface to compress the bag of sealant. The bag bursts and the sealant passes through the gap between the nail and housing and seals the penetration hole between the nail and the building paper. Instead of a bag of sealant, the sealant may be a tar-like substance preferably formed in a cone-shape. The nail may also be provided with a hook affixed thereto proximate the head of the nail for use in catching and holding corner reinforcing wire.