Canadian residential construction costs rose 0.6% in Q1, while nonresidential costs increased 0.5%, as skilled labor and material sourcing constraints persisted.
Wood Markets News
US Mortgage Applications Fall in the Week Ending April 24
Mortgage loan application volume decreased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.
US Residential Vacancy Rates Little Changed in Q1
US rental and homeowner vacancy rates held at 7.3% and 1.1% in Q1, respectively, while the homeownership rate was little changed at 65.3%.
The Conference Board US Consumer Confidence Index Rises in April
The Conference Board Consumer Confidence Index rose slightly to 92.8 in April, up from 92.2 in March.
FHFA House Price Index Holds Steady in February
The FHFA House Price Index held steady in February and was up 1.7% year-over-year.
Canadian Home Builder Confidence Declines in Q1
Canadian builder confidence fell in Q1, with the single-family index at 20.9 and multifamily at a record-low 13.4, the CHBA reported.
S&P Cotality Case-Shiller Index Reports 0.7% Annual Gain in US Home Prices in February
US home prices rose 0.7% year-over-year in February, down from a 0.8% gain in January.
New Zealand and India Sign Free Trade Agreement
New Zealand and India signed a Free Trade Agreement reducing tariffs and expanding access to a fast-growing market of more than 700 million consumers by 2030.
CPKC Reaches Tentative Long-Term Labor Agreements With Two Unions
CPKC reached tentative long-term labor deals with SMART-TD and BLET, covering 1,700 US workers and consolidating 11 contracts into two agreements.
Delinquency Rate for US Mortgages Backed by Commercial Properties Increases in Q1
Commercial mortgage delinquency rates rose to 4.02% in Q1 from 3.86% in 2025Q4, reflecting a gradual increase across most property types, MBA reported.