The NAHB Multifamily Market Survey’s Multifamily Production Index (MPI) increased 7 points year-over-year to a reading of 48, still below the break-even point of 50.
Wood Markets News
US Producer Price Index for Final Demand Up 3.5% Year-Over-Year in January
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.4% in January.
US Weekly Initial Jobless Claims Decline in the Week Ending February 8
The advance figure for seasonally adjusted initial unemployment claims was 213,000, a decrease of 7,000 from the previous week’s revised total.
Canfor Opens New State-of-the-Art Sawmill in Axis, AL
Canfor Southern Pine recently held an opening ceremony for its new $210 million state-of-the-art sawmill complex in Axis, Alabama, WALA reported.
Georgia-Pacific Plans Upgrades to Its Prosperity, SC, Plywood Complex
Georgia-Pacific announced that it will invest $14 million dollars to upgrade its Prosperity, South Carolina, plywood facility.
US Consumer Price Index Rises 3.0% Year-Over-Year in January
The index for shelter rose 0.4% in January, accounting for nearly 30% of the monthly all items increase. The energy index rose 1.1% over the month.
US Mortgage Applications Increase in the Week Ending February 7
Mortgage loan application volume increased 2.3% on a seasonally adjusted basis from one week earlier, MBA reported.
US Existing-Home Buyers Seeing Largest Discounts in Nearly Two Years
The typical home is selling for 1.8% less than its asking price, the biggest discount in nearly two years, Redfin reported.
Western Forest Products Completes Sale of Private Land on Vancouver Island to Eastwood Forests
Western Forest Products completed the sale of 14,500 hectares of fee simple land on Vancouver Island to an affiliate of the Eastwood Climate Smart Forestry Fund I LP for CA$69.2 million.
Acadian Timber Acquires A & A Brochu
Acadian Timber Corp. has signed an agreement to acquire the assets of A & A Brochu, LLC and its affiliates for a total of US$4.8 million.