Of the 99,290 unfurnished, unsubsidized apartments completed in Q2, 65% were absorbed into the market in the first three months following completion, according to US Census Bureau data review by the NAHB.
Wood Markets News
S&P CoreLogic Case-Shiller US National Home Price Index Continues Upward Trek in September
The S&P CoreLogic Case-Shiller US National Home Price NSA Index saw an annual gain of 3.9% in September, up from an annual gain of 2.5% posted in August.
US Consumer Confidence Rises in November, Ending a Three-Month Slide
The Conference Board Consumer Confidence Index® rose to a reading of 102.0 in November, up from a downwardly revised October reading of 99.1.
New US Residential Single-Family Home Sales Down Month-Over-Month but Up Year-Over-Year in October
New residential single-family home sales for October were at a SAAR of 679,000, 5.6% below the revised September rate of 719,000.
Paper Excellence Canada Extends Catalyst Crofton Paper Curtailment Through February 2024
Paper Excellence Canada announced that it was extending the curtailment of its paper operation at the Catalyst Crofton facility for an additional 90 days due to challenging market conditions.
US Multifamily Built-For-Rent Starts Remain Elevated in Q3
There were 104,000 multifamily construction starts in Q3, of which 101,000 units were built-for-rent, according to the Census Bureau and NAHB.
Economies of Canadian Provinces Remain in a Holding Pattern
According reporting by the Financial Post on research by The Conference Board of Canada, Canadian provinces are feeling the pressure of restrictive interest rates.
UK Announces Investments in Climate and Pest Resilient Woodlands Research
The UK is investing £16 million ($20.2 million) to boost the country’s scientists in the development of climate and pest resilient woodlands.
US Single-Family Home Size Shrinks as Housing Affordability Deteriorates
The median single-family square floor area was 2,221 square feet in Q3, close to the lowest reading since the end of 2010, according to the US Census Bureau and NAHB.
Nova Scotia Forestry Innovation Trust Announces New Funding to Aid Businesses Adopting Sustainable Forestry Practices
The Nova Scotia Forestry Innovation Trust is investing $9.85 million (CAD) in a new program to support businesses facing increased costs from adopting more sustainable forestry practices.