According to the Residential Construction Council of Ontario, housing starts will likely weaken and the supply shortage could get even worse, Ontario Construction News reported.
Wood Markets News
US Existing-Home Sales Post Largest Monthly Increase in Nearly Three Years
Existing-home sales in October rose 1.6% month-over-month, the largest gain since January 2022, Redfin reported.
US Building Materials Costs Decrease 0.2% in October
The goods component increased 0.7% over the year, while services decreased 0.4%.
North Carolina Project Repurposing Trees Impacted by Hurricane Helene
Thousands of damaged trees will be repurposed under a project developed through Interagency Recovery Coordination, FEMA announced.
Air New Zealand Readying Hangar With Hemisphere’s Largest Single-Span Timber Roof
Air New Zealand is just a few months away from moving into Hangar 4, which will become one of the world’s largest single-span timber arch hangars once completed, Wood Central reported.
MBA Mortgage Credit Availability Index Increases in October
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 99.2 in October.
Canadian Existing-Home Sales Jump 7.7% in October
Existing-home sales activity increased 7.7% month-over-month in October, reaching its highest level since April 2022, CREA reported.
US Forest Service Awards $20 Million to Help Reduce Wildfire Risk and Support Communities
The US Forest Service announced that it has awarded $20 million to transport hazardous fuels from forests to facilities for processing into wood products or energy sources.
Canada’s 2 Billion Trees Program Reaches Major Milestone
As of June, the government has signed or was negotiating tree-planting agreements representing a commitment to plant 716 million trees—nearly tripling last year’s total.
Arauco to Replace MDF Line With Modern OSB Plant in Cholguán, Chile
Arauco, the world’s second-largest manufacturer of wood-based panels, has commissioned DIEFFENBACHER to supply an OSB plant to replace an existing MDF line.