Privately‐owned housing starts in January were at a SAAR of 1,331,000, 14.8% below the revised December estimate.
Wood Markets News
Quebec Asks Canadian Federal Government for Extra Log Harvesting Rights to Compensate for Last Year’s Wildfires
Canada committed to planting two billion trees across the country to restore habitats and fight climate change, and now Quebec wants to harvest some of them, Canada’s National Observer reported.
Mortgage Applications for New-Home Purchases Soar in January
Mortgage applications for new-home purchases increased 38.0% month-over-month and 19.1% year-over-year in January, the MBA reported.
“TallWood Project” Testing Confirms Mass Timber’s Impressive Seismic Resilience
After more than 100 simulated earthquakes, the 10-story “Tallwood Project” building has demonstrated the impressive seismic resilience of mass timber buildings, temblor reported.
Producer Price Index for Final Demand Increases Month-Over-Month and Year-Over-Year in January
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.3% in January, the BLS reported.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for February
The University of Michigan Index of Consumer Sentiment increased 0.8% month-over-month to a reading of 79.6 in February.
Interfor Announces Indefinite Curtailment at Its Philomath, OR, Sawmill and Reduced Production at BC Operations
Interfor will indefinitely curtail its sawmill operations in Philomath, Oregon, and temporarily reduce production at its British Columbia operations in Q1.
Extreme Drought in Mississippi Claims 12.5 Million Trees, Survey by Mississippi Forest Commission Finds
The Mississippi Forestry Commission estimates drought conditions in Mississippi have killed 12.5 million trees, The Daily Leader reported.
Canadian Housing Starts Trend Lower in January
The seasonally adjusted annual rate for housing starts in Canada decreased 10% month-over-month to 223,589 units in January, the CMHC reported.
US Builder Confidence Trends Higher for Third Consecutive Month in February
The National Association of Home Builders/Wells Fargo Housing Market Index increased 4 points to a reading of 48 in February.