Western Forest Products completed the sale of 14,500 hectares of fee simple land on Vancouver Island to an affiliate of the Eastwood Climate Smart Forestry Fund I LP for CA$69.2 million.
Wood Markets News
Acadian Timber Acquires A & A Brochu
Acadian Timber Corp. has signed an agreement to acquire the assets of A & A Brochu, LLC and its affiliates for a total of US$4.8 million.
Value of Canadian Building Permits Increases 11.0% in December
The total value of building permits rose 11.0% to $13.1 billion (CAD) in December. On a constant dollar basis (2017=100), the value of building permits issued grew 8.8%.
MBA Mortgage Credit Availability Index Rises in January
The MBA Mortgage Credit Availability Index rose 2.5% in January to a reading of 99.0.
NFIB Small Business Optimism Index Retreats in January
The NFIB Small Business Optimism Index declined 2.3 points to a reading of 102.8 in January. Even with the decline, this marks the third consecutive month above the 51-year average of 98.
US Residential Vacancies and Homeownership Statistics for Q4
The rental vacancy rate of 6.9% was not statistically different from Q3 (6.9%). The homeowner vacancy rate of 1.1% was not statistically different Q3 (1.0%).
US Existing-Home Sales Slump Just as More New Listings Hit the Market
New listings of US homes for sale rose 7.9% year-over-year during the four weeks ending February 2, the biggest increase since the end of last year, Redfin reported.
US Construction Unemployment Rate Rises 0.8% Year-Over-Year in December
Not seasonally adjusted, the US construction unemployment rate was 5.2% in December, up 0.8% year-over-year, ABC reported.
UK Extends Biomass Energy Agreement With Drax but Reduces Subsidies
The UK and Drax reached a new deal that will halve the energy producer’s subsidies over 2027–31, while ensuring the group uses more sustainable sources of woody biomass, Reuters reported.
Tallest Commercial Mass Timber Building in New South Wales, Australia, is Approved
Sydney, Australia, will soon become home to a 13-story high-rise recently approved for development, according to a feature by Architecture, Au.