The Canadian Real Estate Association reported that home sales recorded over the Canadian MLS® System posted a 1.5% increase month-over-month in June. This is a smaller increase than in April and May.
Wood Markets News
US Home Foreclosure Rates Jump in First Half of 2023
ATTOM released its Mid-Year 2023 US Foreclosure Market Report. The report shows that there was a total of 185,580 US properties with foreclosure filings in the first half of 2023. That figure is 13.0% above the same period a year ago.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for July
The Index of Consumer Sentiment rose to a reading of 72.6 in July, up from 64.4 in June. This is a month-over-month increase of 12.7% and up 41.0% year-over-year (51.5 in July 2022).
BC Dockworkers Reach Tentative Agreement With BC Maritime Employers Association
Dock workers at ports along Canada’s west coast and their employers have reached a tentative wage deal, bringing an end to a 13-day strike that disrupted trade at two of Canada’s three busiest ports.
Canfor to Resume Production at Northwood Pulp Mill in BC
Canfor Pulp Products announced on Thursday that it would resume production at its Northwood Pulp Mill, located in Prince George, BC, during the week of July 17th.
US Building Materials Costs in Residential Construction Fell in June
The prices of good used in residential construction, including energy, have decreased 3.6% over the past 12-months—the largest 12-month decline since October 2009.
World’s First Date Palm Fronds MDF Plant Being Built in Egypt
Dieffenbacher has been selected to supply the world’s first plant for the production of MDF from date palm fonds to Egypt. The HDF/MDF facility is being built in the Toshka region and is scheduled to begin production in 2025.
US National Interagency Fire Center Wildfire Update for the Week Ending July 14th
As of Friday, July 14th, 23 large wildfires have burned 127,584 acres in nine states. Three large new wildfires were reported. Since January 1st, 26,625 wildfires have burned 749,994 acres across the US.
US Median Home-Sale Price Increases for the First Time in Nearly Five Months, Redfin Reports
Redfin reported that the median US home-sale price increased 1.5% year-over-year during the four weeks ending July 9th. This marks the first increase in home-sale prices in nearly five months.
Associated Builders and Contractors Backlog Indicator Held Steady in June, but Contractor Confidence Diminished
The Associated Builders and Contractors Construction Backlog Indicator held steady at 8.9 months in June. The reading is also unchanged from June 2022.