The six-month trend in housing starts was 2.1% lower month-over-month in December, with 249,898 units being reported, CMHC reported.
Wood Markets News
BC Wildfire Service Says Over 100 Wildfires Are Still Burning in the Province
A combination of a busy 2023 wildfire season, drought, and drier conditions through December have left more than 100 wildfires still burning in BC, The Canadian Press reported.
Home Price Growth Falls Further in 2023Q4, Fannie Mae Reports
Single-family home prices increased 7.1% year-over-year in 2023Q4, the Fannie Mae Home Price Index (FNM-HPI) showed.
Delinquency Rate for Mortgages Backed by Commercial Properties Increases in 2023Q4
According to MBA’s commercial real estate finance Loan Performance Survey, during 2023Q4 the delinquency rate for mortgages backed by commercial properties increased from 2023Q3.
Canadian Consumer Price Index Climbs 3.4% Year-Over-Year in December
The Canadian Consumer Price Index (CPI) increased 3.4% year-over-year in December, following a 3.1% gain in November.
Vancouver, BC’s Mount Pleasant Neighborhood Could Be Site of City’s Tallest Hybrid-Timber Tower
An application from Henriquez Partners Architects on behalf of Westbank Projects Corp. goes to a public hearing on January 23rd for a 25-story rental high-rise, BIV reported.
December Snowstorm Racks Up Significant Financial Losses for Maine’s Forestry Industry
A survey by the Professional Logging Contractors of the Northeast shows a large winter storm in Maine on December 18th has caused disruptions and large financial losses, Mainebiz reported.
89% of US Homeowners With a Mortgage Have a Rate Below 6%
Redfin reported that 88.5% of US homeowners with mortgages have an interest rate below 6%, down from a record high of 92.8% in mid-2022.
Canadian Existing-Home Sales Trend Higher in December
Home sales recorded over Canadian MLS® Systems increased 8.7% from November to December 2023, CREA reported.
Canadian Lumber Production Rises 7.1% Month-Over-Month in October
In October, lumber production in Canada increased 7.1% from September to 4,441.2 thousand cubic meters. Year-over-year, production was up 6.1%.