Statistics released today by the Canadian Real Estate Association (CREA) reveal that national home sales recorded over the Canadian MLS® system declined 3.3% on a month-over-month basis in November. The November decline has erased October’s small gain.
Wood Markets News
US Weekly Jobless Claims Decrease for the Week Ending December 10th
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 211,000 during the week ending on Saturday, December 10, 2022. This is a decrease of 20,000 from the previous week’s revised level of 231,000 (originally reported as 230,000).
Canadian Investment in Building Construction Increased in October
Statistics Canada reported today that nationally investment in building construction in October increased 0.2% to $20.9 billion (CAD). Investment in residential building construction in October was down by 0.1% to $15.4 billion. Single family home investment declined 2.3%.
Oregon Department of Forestry Produces More Than $97 Million in Revenue for County and City Governments
According to the Oregon Department of Forestry (ODF), logging in Oregon’s state forests produced more than $97 million in revenue for country and state governments in 2022. Oregon currently distributes about two-thirds of the timber revenues from state forests to surrounding counties under a management agreement.
Mortgage Applications Rise in the Week Ending December 9th
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending December 9th, the Market Composite Index (a measure of mortgage loan application volume) increased 3.2% on a seasonally adjusted basis from one week earlier.
Overcoming the Challenges of Logging on Steep Slopes in BC and Around the Globe
In 2017, FPInnvoation’s Steep Slope Initiative research described the evolution of steep slope harvesting in Canada and the associated challenges that such a process would bring. Five years later, that research remains ongoing. Winch-assist technology is one suggested technique.
Commercial and Multifamily Mortgage Debt Outstanding Increased $70 Billion in Q3
The Mortgage Bankers Association on Thursday, released its latest Commercial/Multifamily Mortgage Debt Outstanding (CMMDO) quarterly report. According to the CMMDO, in 2022Q3, the level of commercial/multifamily mortgage debt outstanding increased by 1.6%, or $70.0 billion.
Denbury and Weyerhaeuser Announce Agreement for CO2 Sequestration Site in Mississippi
Denbury, an independent energy company with operations and assets focused on Carbon Capture, Use, and Storage (CCUS) and Enhanced Oil Recovery (EOR), and Weyerhaeuser announced on Monday an agreement for the evaluation and potential development of a CO2 sequestration site in Mississippi.
Consumer Price Index Increases 0.1% in November; Year-Over-Year All-Item Index Up 7.1%
The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November, on a seasonally adjusted basis, after increasing 0.4% in both October and September. Over the past 12 months, the all-item index has increased 7.1% before seasonal adjustment.
BC Premier David Eby Commits to Protecting the Province’s Biodiversity
In mandate letters to his land stewardship and forestry ministers, recently elected BC Premier David Eby says he wants to double the amount of protected land in the province, support new Indigenous Protected and Conserved Areas, and move faster on recommendations around the logging of old growth trees.