Mass Timber Strategy highlighted two milestone anniversaries in the month of August for mass timber usage in the US.
Wood Markets News
Tropical Storm Hilary Hinders Union Pacific Railroad in Two of Its California Subdivisions
Union Pacific Railroad has suspended service within its Mojave and Yuma subdivisions due to heavy rains and flooding from Tropical Storm Hilary, FreightWaves reported.
Canada Announces Challenge to US Softwood Lumber Duties
The Canadian trade ministry said in a statement on Monday that Canada has filed notices of intent to commence judicial review of US softwood lumber duties, Reuters reported.
Multifamily Built-For-Rent Housing Starts Remain Elevated in Q2
The count of multifamily, for-rent housing starts remained elevated in 2023Q2, according to the US Census Bureau and National Association of Home Builders.
Ontario’s First Mass Timber, Net-Zero Institutional Building Nears Completion
Ontario’s first mass timber, net-zero carbon emissions institutional building, Limberlost Place, has reached the highest point in construction, according to PLC Construction.
US Existing-Home Sales Decline in July
Existing-home sales (completed transactions) recorded a 2.2% month-over-month decline to a seasonally adjusted rate of 4.07 million homes in July, according to the National Association of Realtors.
Share of Mortgage Loans in Forbearance Declines Further in July
The total number of loans in forbearance as of July 31st decreased 5 basis points to 0.39% of servicers’ portfolio volume, down from 0.44 in June, according to the Mortgage Bankers Association.
Western Canadian Wildfires Disrupt CN Railway Movement
Wildfires in BC have disrupted CN Railway train movement in the Vancouver corridor, according to an August 18th CN Network Update sent to customers and seen by FEA.
Paper Excellence Canada Announces Permanent Closure of its Catalyst Paper tiskwat Mill in Powell River, BC
Paper Excellence Canada announced that it has decided to permanently curtail production at its Catalyst Paper tiskwat, its paper mill located in Powell River, BC.
US Newly Built Home Sales Accounted for Nearly One-Third of All Single-Family Sales in Q2
Redfin reported that in Q2, newly built homes made up nearly one-third (31.4%) of single-family homes on the market. That is the highest share of any second quarter on record.