New residential single-family home sales for September were at a SAAR of 759,000, according to estimates. This is 12.3% above the revised August rate of 676,000.
Wood Markets News
BC Government Announces New Funding for Value-Added Wood Producers and Manufacturers in the Kootenays
As much as $400,000 will support a capital improvement project by Creston’s J.H. Huscroft Ltd., a value-added specialty manufacture of glulam, trim, boarding, and flooring.
Canadian Government Funding Helps Ontario Move Closer to Meeting Its Tree Planting Pledge
The joint investment of more than $1.6 million (CAD) will support two projects that will see more than 122,345 trees planted across the Halton, Ontario, region.
White House Names Oregon as Tech Hub for Mass Timber, Opening the Door to Millions in Funding
Oregon is in the running to receive tens of millions of dollars from the federal government for semiconductors and mass timber, according to Captial Press.
Could Building Cities Using More Wood-Based Products Help Prevent Wildfires?
Bloomberg discusses forest health and mass timber in a segment on the global rise of mass timber as a low carbon building material.
Mortgage Applications Continue to Decline in the Week Ending October 23rd
Mortgage loan application volume decreased 1.0% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.
Four First Nations of the Nanwakolas Council and Western Forest Products Announce New BC Forestry Agreement
Four First Nations and Western agreed for the Nations to acquire a 34% interest from Western in a newly formed limited partnership for $35.9 million (CAD).
Highland Grenada to Build Wood Pellet Facility in Grenada, Mississippi
Highland Grenada LLC has announced its acquisition of a 144-acre former Georgia-Pacific OSB mill site in Grenada, Mississippi, SuperTalk Mississippi Media reported.
High Interest Rates Not Deterring Americans’ Pursuit of Home Ownership
The share of adults with plans to purchase a home increased to 17% in Q3, up from 15% in Q2, according to the National Association of Home Builders.
New Home Prices in Canada Drift Lower in September
The national index for new home prices in Canada declined 0.2% month-over-month in September. Year-over-year, Canadian new home prices declined 1.0%.