According to Reuters, Canadian federal government officials are reporting that wildfires are burning in nearly all Canadian provinces and territories, and that weather modeling shows increasing wildfire risk in most of Canada through August.
Wood Markets News
US Department of Energy Launches New Initiative to Accelerate the Development of the Next Generation of Biomass Wood Heaters
The US Department of Energy’s Bioenergy Technologies Office announced it has launched a $4 million initiative that aims to accelerate wood heater innovation and support the development of the next generation of efficient and clean wood heaters, according to a report by Biomass Magazine.
Homes Sales Are Down as Market Rates Move Up and Home Prices Remain Elevated
During the 4-week period ending on May 28th, pending home sales fell 17% year-over-year, marking one of the largest declines since the start of the year.
US Home Prices in May Increased at the Slowest Rate Since 2016
According to a review of the Realtor.com® Monthly Housing Trend Report by LBM Journal, home prices increased modestly in May, but price growth slowed to the lowest rate on record since 2016. The median list price grew to $441,000 in May, up from $430,000 in April.
Pretium Partners Inks $1.5 Billion Deal to Purchase Thousands of D.R. Horton Homes
Pretium Partners has completed a transaction with the nation’s largest single-family homebuilder, D.R. Horton Inc., to acquire more than 4,000 homes, largely located in the Southeast and Southwest, for a value of approximately $1.5 billion.
Brazilian Exports of Wood-Based Products Declined Month-Over-Month and Year-Over-Year in April
In April 2023, Brazilian exports of wood-based products (except pulp and paper) declined 29.0% in value compared to April 2022, from US$470.2 million in April 2022 to US$336.1 million in April 2023.
US National Interagency Fire Center Wildfire Update for the Week Ending June 1st
As of Thursday, June 1st, seven large wildfires have burned 66,209 acres in six states. One large new wildfire was reported in New Jersey during the week. Since January 1st, 18,403 wildfires have burned 518,698 acres across the US.
BC Government Extends Fairy Creek Watershed Old-Growth Deferral Until February 2025
The BC provincial government announced Friday that it has approved a legal order to extend the deferral of old-growth harvesting in the Fairy Creek watershed until February 1st, 2025.
Early Start to Wildfire Season in Canada Brings Global Support Response
Emergency Preparedness Minister Bill Blair said that an “unprecedented” start to the wildfire season in Canada has led to serious wildfires spreading destruction and forcing evacuations across 7 provinces and 1 territory.
West Virginia University Researchers Find Ways to Use Low-Grade Hardwoods in Cross-Laminated Timber
Joseph McNeel, a professor at West Virginia University, has been testing the effectiveness of yellow poplar—an abundant West Virginia species—as a source of engineered wood building materials.