The Canadian Consumer Price Index (CPI) increased 2.0% year-over-year in August. This the slowest pace since February 2021.
Wood Markets News
Canadian Home Sales Trend Higher in August
Home sales increased 1.3% month-over-month in August to the highest level since January and the second highest level in over a year, CREA reported.
BC Announces Additional Support for Wood Products Manufacturing
BC announced new support for forest-sector manufacturers: Kruger Kamloops Pulp Mill and Power Wood Corporation.
Brink Group Eager to Purchase Canfor Assets in Fort St. John, Vanderhoof, Houston, and Bear Lake, BC
Brink Group has made a proposal to Canfor to buy its mills and timber harvesting rights in Bear Lake, Vanderhoof, and Fort St. John, BC, Vancouver Is Awesome reported.
Norra Timber Announces Long-Term Investment Plan for Its Sawmill in Hissmofors, Sweden
Norra Timber recently announced a three-phase upgrade of its Hissmofors, Sweden, sawmill with an investment of up to SEK 150 million (US$14.8 million).
Average Time to Complete a Multifamily Building in 2023 Increased to 19.9 Months
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, the Census Bureau and NAHB reported.
Mass Timber Made From Upcycled Construction Scrap to Be Featured at London’s BuildZero
The first timber structure made from CLT and glulam upcycled from construction scrap will be showcased at BuildZero in London, Wood Central reported.
US National Interagency Fire Center Wildfire Update as of September 16th
As of Monday, 55 large active wildfires are being managed with full suppression strategies nationwide. Current wildfires have burned 2,433,868 acres.
Canfor Provides Update After Recent BC Sawmill Closures
Canfor said it remains committed to exploring opportunities to divest some of its northern BC tenure to support other BC manufacturers who are facing similar challenges.
Lower Mortgage Rates and Increasing Inventory Give Would Be Home Buyers a Window of Opportunity
Lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year, Zillow reported.