Investment in Canadian building construction fell 2.6% to $17.5 billion (CAD) in July. Single-family home construction investment decreased 5.5% to $5.8 billion.
Wood Markets News
US Builder Sentiment Declines For Second Consecutive Month in September
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes declined 5 points in September to a reading of 45.
USDA Announces $1 Billion in Competitive Grants to Plant and Maintain Trees in Urban and Suburban Areas
The Forest Service is awarding more than $1 billion in competitive grants to plant and maintain trees in cities, towns, and suburbs where more than 85% of Americans live, work, and play.
Mass Timber and Prefab Construction—Better Together
In an interview with Professional Builder, Todd Beyreuther, director of product at Mercer Mass Timber, highlighted how mass timber and prefab housing construction can be stronger together.
US National Interagency Fire Center Wildfire Update for the Week Ending September 15th
As of Friday, September 15th, 67 large wildfires have burned more than 468,938 acres in 12 states. Two new large new wildfires were reported.
Home Purchases Are Falling Through at the Fastest Rate in Nearly a Year
Redfin reported that residential real estate deals are falling through at their highest rate in almost a year.
Producer Price Index for August With a Focus on Building Materials Prices
Analysis provided by the NAHB reveals that the price level of inputs into residential construction less energy ticked up 0.1% in August, not seasonally adjusted.
Canadian Home Sales Fall 4.1% Month-Over-Month in August
The Canadian Real Estate Association reported that home sales posted over the Canadian MLS® Systems declined 4.1% between July and August.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for September
The Index of Consumer Sentiment declined to a reading of 67.7 in September, down from its reading of 69.5 in August. This is a month-over-month decline of 2.6%.
Canfor Announces $200 Million Investment to Build New Houston, BC, Facility
Canfor announced it will invest $200 million (CAD) to build a new state-of-the-art manufacturing facility in Houston, British Columbia.