Reuters reported that International Paper has sold its 50% stake in a Russia-based joint venture to local Russian shareholders.
Wood Markets News
Canadian Industrial Product and Raw Materials Price Indexes Increase in August
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.3% month-over-month in August.
Canadian Investment in Building Construction Declines in July
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.
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.