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.
Wood Markets News
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.
Washington DNR Chief Sees Value of CLT Manufacturing in Reducing Forest Waste
Washington’s Department of Natural Resources (DNR) Chief Hilary Franz toured Mercer’s mass timber facility in the Spokane Valley, Spokane Public Radio reported.
US National Interagency Fire Center Wildfire Update for the Week Ending October 13
As of October 13th, 15 large wildfires have burned more than 283,736 acres in 6 states. Two new large wildfires were reported on Thursday in California.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for October
The Index of Consumer Sentiment declined to 63.0 in October, down from 68.1 in September. This is a month-over-month decline of 7.5% but up 5.2% year-over-year.
Zillow’s Latest Market Report Reveals an Unexpected Slowdown in Sales Activity in September
Zillow Group in its latest Zillow® Market Report reported that US home values took an unexpected slowdown in September, albeit a small one.
Prince Edward Island Announces Funding for Clearing Trees Felled by Hurricane Fiona
PEI announced that funding is now available to assist with clearing hurricane-felled trees on essential forest access roads and on small wood lots that may pose a fire risk.