The Memorandum of Cooperation is aimed at reinforcing New Zealand’s commitment to enhancing collaboration with India in the forestry sector.
Wood Markets News
US Renter Population Increases in Q4
The number of renter households in America increased 0.8% year-over-year to 45.4 million in Q4, the slowest growth since 2023Q1, Redfin reported.
Construction Underway on 31-Story Mass Timber Tower in Milwaukee, WI
Construction has started on a 31-story, 378-unit mass timber mixed-use high rise in downtown Milwaukee, Wisconsin, according to The Daily Reporter.
US Housing Starts Increase in February, While Permits and Completions Decline
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000, 11.2% above the revised January estimate.
Canadian Housing Starts Decline in February
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada decreased 4% in February to 229,030 units, CMHC reported.
US Existing-Home Prices Rise in February at the Slowest Pace Since July 2024
US home prices grew 0.4% in February on a seasonally adjusted basis, the slowest pace since July 2024, Redfin reported.
EU Warns of High Risk of Plywood Sanctions Evasion
On Friday, the European Commission issued an alert warning of a high risk of sanctions circumvention in plywood imports.
CPKC Announces New Collective Agreement With United Steelworkers
CPKC railroad announced that United Steelworkers, representing approximately 600 clerical and intermodal employees in Canada, has ratified a new four-year agreement.
State-Level Construction Employment Data for January
Overall, the construction industry added a net 2,000 jobs in January, the BLS and NAHB reported. Employment increased in 23 states.
Canadian CPI Increases 2.6% Year-Over-Year in February
The Consumer Price Index rose 1.1% in February. Year-over-year, the CPI increased 2.6%, following a 1.9% increase in January.