Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7% above the revised April estimate of 1,340,000 and 5.7% above the May 2022 rate of 1,543,000. Single-family housing starts were at a rate of 997,000; this is 18.5% above the revised April figure of 841,000.
Wood Markets News
Alberta Wildfires Continue to Negatively Impact Tolko and West Fraser’s Log Harvesting Plans for 2023
Alberta’s South Peace News reported on Sunday that wildfires across northern Alberta have hindered harvesting plans by two forestry companies in the High Prairie region: Tolko and West Fraser.
Garnica to Build New Plywood Factory in Uruguay
Garnica, a leading manufacturer of sustainable plywood made using farm-grown poplar from Spain and France, has announced plans to open a new plant in Uruguay. The Uruguay factory will be the company’s first factory on the American continent.
Mortgage Applications for New Home Purchases Increased Month-Over-Month and Year-Over- Year in May
The Mortgage Bankers Association reported that mortgage applications for new home purchases in May increased 8.0% month-over-month and were up 16.6% year-over-year. This change does not include any adjustments for seasonal patterns.
Roseburg Forest Products Announces Permanent Closure of Its Taylorsville, Mississippi, Particleboard Plant
Roseburg Forest Products announced on Friday that it intends to permanently cease operations at its Taylorsville, Mississippi, particleboard plant on August 21st, 2023.
US Builder Sentiment Up for Sixth Consecutive Month in June
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes increased 5 points in June to a reading of 55. This marks the sixth consecutive monthly gain.
BC Provincial Government to Support New Mass Timber Production Facility in Williams Lake
The BC Provincial Government will support the establishment of a new mass-timber production facility in the William Lake, BC, community. BC will contribute as much as $10 million (CAD) to Massive Canada to build and start operations.
Canadian Wildfire Situation Eases Slightly, But Risk Continues With 400 Wildfires Still Burning
The Canadian Press and CKPGToday are reporting that as of Monday morning, there are currently 420 wildfires burning in nine provinces and two territories within Canada. Of those 420 wildfires, more than 200 continue to burn out of control.
Canadian Industrial Product Price Index and Raw Materials Price Index Both Decline in May
The prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 1.0% month-over-month in May. Year-over-year, prices were 6.3% lower. This marks the largest year-over-year decline since October 2009.
Mercer Reopens Former Structurlam Mass Timber Facility in Conway, Arkansas
The Northwest Arkansas Democrat Gazette reported that production at the former Structurlam mass timber plant located in Conway, Arkansas, resumed on Thursday, June 15th.