Housing starts for all areas in Canada increased 14% month-over-month to a SAAR of 253,468 units in February, the CMHC reported.
Wood Markets News
Pyramid Mountain Lumber Announces Permanent Closure of Its Seeley Lake, MT, Sawmill
Seely Lake, Montana’s Pyramid Mountain Lumber announced that it will cease operations later this spring, 8KPAX reported.
New Forestry Land-Use Agreement Taking Final Shape on Northern Vancouver Island
A major new forestry land-use agreement between First Nations, Western Forest Products, BC, and others is taking shape on Northern Vancouver Island, CHEK reported.
Commercial and Multifamily Mortgage Debt Outstanding Increases in 2023Q4
The level of commercial and multifamily mortgage debt outstanding at the end of 2023 was 2.8% higher than at the end of 2022, the MBA reported.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for March
The University of Michigan Index of Consumer Sentiment declined slightly to a reading of 76.5, down from 76.9 in February.
Eastwood Forests Purchases 20,580 Acres of Forestland in Virginia and West Virgina
Eastwood Forests recently completed its acquisition of approximately 20,580 acres of forestland in Virginia and West Virginia, adding to its Climate Smart Forestry Fund portfolio.
US Building Materials Costs in Residential Construction Continue to Trend Higher in February
The prices of goods used in residential construction, less energy, increased for the fourth consecutive month in February, the BLS and NAHB reported.
Associated Builders and Contractors Construction Backlog Indicator Moves Lower in February
The Associated Builders and Contractors Construction Backlog Indicator declined to 8.1 months in February, down from 8.4 months in January.
Fixed-Rate Mortgages Continue to Move Lower in the Week Ending March 14th
The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.88%, Freddie Mac reported.
Europe’s First College Building Entirely Constructed From Solid Wood Opens in the Netherlands
The Netherlands is now home to the first college building in Europe entirely constructed from solid wood, according to a profile by dezeen.