The average US home buyer must earn $114,627 to afford a median-priced home, Redfin reported. That is up 15%, or $15,285, from a year ago.
Wood Markets News
Replanting Program Continues Across New South Wales, Australia, Softwood Plantations Following 2019–20 Fires
Since the 2019–20 bushfires in New South Wales, Australia, 40 million seedlings have been replanted in pine forests, according to the Forestry Corporation of NSW.
Canadian Consumer Price Index Increases 3.8% Year-Over-Year in September
In September, the Consumer Price Index (CPI) increased 3.8% on a year-over-year basis, down slightly from August’s 4.0% gain. The year-over-year deceleration was broad-based.
Canadian Home Sales Fall 1.9% Month-Over-Month in September
Home sales recorded over Canadian MLS® Systems declined 1.9% between August and September, the Canadian Real Estate Association reported.
BC Government Hopes to Expand Value-Added Wood Manufacturing Through Collaboration
BC will host accelerator tables to bring together First nations, value-added manufacturers, and forest licensees to develop joint solutions to sustain, grow, and diversify BC’s value-added sector.
UK Pension Protection Fund, UniSuper, and APG Acquire Forico and Tasmania’s Largest Hardwood Estate
Pension Protection Fund, Unisuper, and APG have announced the acquisition of Forico and a 170,000-hectare plantation forestry estate in Tasmania from a New Forest managed fund.
US Home Prices Increase 5.3% Year-Over-Year in Q3
US single-family home prices increased 5.3% year-over-year in Q3, up from Q2’s revised annual growth rate of 2.9%, according to Fannie Mae’s latest Home Price Index (FNM-HPI).
BC Sets New Allowable Annual Cut for the Lillooet Timber Supply Area
The new AAC, which takes effect immediately, is 375,000 cubic meters. This is a 34% reduction from the previous AAC, while still remaining 9% above 2016–21 harvesting levels.
Inflation in Building Materials Used in Residential Construction Moderated in September
The prices of inputs into residential construction less energy (i.e., building materials) was unchanged in September (not seasonally adjusted), the NAHB and Census Bureau reported.
US Remodeler Sentiment Trends Lower in Q3
The National Association of Builders/Westlake Royal Remodeling Market Index for Q3 declined 3 points to a reading of 65, down from 68 in Q2.