Investment in building construction declined 0.9% to $19.7 billion (CAD) in January, with the residential component 1.4% lower at $13.6 billion.
Wood Markets News
US Builder Confidence Climbs Above Breakeven in March
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 3 points to a reading of 51 in March.
Canadian Industrial Product and Raw Materials Price Indexes Post Month-Over-Month Gains in February
The price of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI) increased 0.7% on a monthly basis in February.
Canadian Existing-Home Sales Decline 3.1% Month-Over-Month in February
Home sales recorded over Canadian MLS® Systems posted a 3.1% decline between January and February, CREA reported.
US National Interagency Fire Center Wildfire Update for the Week Ending March 15th
As of March 15th, 14 large new wildfires were reported during the week, 6 of which have already been 100% contained.
Western Forest Products Announces Two-Week Shutdown at Its Chemainus, BC, Sawmill
The two-week shutdown is scheduled to begin the week of March 18th, CHEK reported.
Timberlab to Build New CLT Facility in Oregon
Timberlab plans to construct and operate a new CLT manufacturing facility in Oregon.
Canadian Housing Starts Climb 14% Month-Over-Month in February
Housing starts for all areas in Canada increased 14% month-over-month to a SAAR of 253,468 units in February, the CMHC reported.
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.