German real estate company TAG Immobilen told Reuters that it anticipates home prices in Germany could fall as much as 30% below their 2022 peak.
Wood Markets News
Eastwood Forests Acquires 92,000 Acres of NY Forestland for Its Climate Smart Forestry Fund
Eastwood Forests has acquired approximately 92,200 acres of forestland in New York, the first property for its Climate Smart Forestry Fund.
32% of Single-Family Homes for Sale in 2023Q4 Were New Construction
In Q4, 31.8% of all US single-family homes for sale were new construction, Redfin reported. That is that comparable with 31.9% in 2022Q4, the highest level of any Q4 on record.
Canadian Building Permits Data for December, 2023Q4, and 2023
The total value of building permits in Canada declined 14.0% from November to $9.2 billion (CAD) in December.
Vancouver, BC, Approves New 25-Story Mass Timber Tower
The Vancouver City Council has approved a new 25-story tower project that will push the limits of mass timber construction for residential towers, Daily Hive reported.
Tolko Industries Reduces Production at Its Lakeview Sawmill in BC
Tolko will temporarily lay off 60 workers and reduce its shifts from two down to one 50-hour shift per week at its sawmill in Williams Lake, BC, The Williams Lake Tribune reported.
Carbotech Group Acquires Sawquip
Carbontech Group has acquired Sawquip, a manufacturing company specializing in the design and manufacture of sawmill equipment.
West Fraser Completes Sale of Its Hinton Pulp Mill in Alberta to Mondi Group
West Fraser Timber Co. Ltd. announced that it has completed the sale of its Hinton Pulp mill in Alberta to Mondi Group plc (“Mondi”).
87 Wildfires From 2023 Continue to Burn in Northeast BC; Ongoing Drought Persists
According to the BC Wildfire Service, there are 87 wildfires actively burning in the Prince George region, an unusually high number, The Vancouver Sun reported.
US Asking Rents Decline for Sixth Consecutive Month in January
The US rental market logged its sixth consecutive month of negative growth with the nationwide median rent falling 0.3%, in February, Apartment List reported.