The Industrial Product Price Index (IPPI) declined 0.1% month-over-month and 2.9% year-over-year in January.
Wood Markets News
US Existing-Home Sales Market Slows in January as Mortgage Rates Hold Steady
New listings dropped 1.2% month-over-month in January (seasonally adjusted), Redfin reported.
US Townhouse Starts Climb 27% Year-Over-Year in 2024Q4
Single-family attached starts totaled 47,000 units in 2023Q4, a 27% increase from 2022Q4, the Census Bureau and NAHB reported.
US Housing Starts, Building Permits, and Completions All Decline Month-Over-Month in January
Privately‐owned housing starts in January were at a SAAR of 1,331,000, 14.8% below the revised December estimate.
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.