42% of new single-family detached homes sold in 2022 were built on lots under 7,000 square feet (less than 0.16 of an acre), according to the Census Bureau and NAHB.
Wood Markets News
Chile’s CMPC Agrees to Purchase Kentucky-Based Heritage Millwork
Chile-based Empresas CMPC SA has agreed to acquire Heritage Millworks (dba Powell Valley Millwork) in Lexington, Kentucky, according to Merchant Magazine.
Canadian Wildfire Update Provided by Natural Resources Canada
Canada is at a national Preparedness Level 5 out of 5, indicating full commitment of national resources is ongoing, demand for resources is extreme, and international resources are being mobilized.
Global Coalition Looks to Secure a Place in Emerging Carbon Markets
Two Australian forestry sector veterans have created the International Sustainable Forestry Coalition (ISGC) to secure a place in the emerging carbon market, according to a feature by Proactive Investors.
Canada and Ontario Investing in Affordable Housing Units
Canada, Ontario, and the regional Municipality of Halton have announced over $45 million (CAD) in funding to construct 52 affordable housing units in Oakville, Ontario.
Acquisition, Development, and Construction Loan Volumes Decline in Q2
Rising interest rates and tightening financial conditions contributed to a decline in the volume AD&C loans during Q2, the National Association of Home Builders reported.
US Wood Pellet Exports Decline Month-Over-Month but Rise Year-Over-Year in July
The US exported 651,698.8 metric tons of wood pellets in July, down from 865,995.4 metric tons in June, according to the USDA and Biomass Magazine.
US National Interagency Fire Center Wildfire Update for the Week Ending September 8th
As of Friday, September 8th, 72 large wildfires have burned more than 468,876 acres in 14 states. Five new large wildfires were reported.
Canadian Employment Increases in August
Employment throughout Canada increased by 40,000, or 0.2%, in August, following little change in July. Since January, employment has increased by 174,000, or 0.9%.
Fannie Mae Home Purchase Sentiment Index Unchanged for August
The Index remained effectively unchanged in August, as consumer confidence towards housing continued along the low-level set earlier in the year.