Citing significantly higher log costs and a lack of available economic fiber, the company announced on Monday two weeks of unscheduled downtime at its Lakeview sawmill operation in Williams Lake, BC.
Wood Markets News
Canadian Housing Starts Increase in April
The standalone monthly seasonally adjusted annual rate of total housing starts for all areas in Canada reached 261,559 units in April, an increase of 22% when compared to March’s 213,780 units.
Canadian Home Sales Jump as Demand Continues to Outpace Limited Supply
The Canadian Real Estate Association reported that homes sales recorded over the Canadian MLS® Systems posted an increase of 11.3% from March to April. This follows a smaller back-to-back monthly gain between February and March.
260-Foot Timber Bridge in New York City Will Connect the High Line to Moynihan Train Hall
The elevated pathway that will connect the High Line to the new Moynihan Train Hall in New York City recently hit a major milestone when the 260-foot-long timber bridge was craned into place, according to “6sqft.”
Greater Availability of US Rental Units Leads to Rising Vacancies and Lower Rent Costs
Redfin reported that the median US asking rent increased 0.3% year-over-year to $1,967 in April, marking the eleventh consecutive month of slowing growth. Month-over-month, the median rent fell 0.2%.
Canadian Interagency Forest Fire Center Report as of May 14th
Canada is currently at a wildfire preparedness level of 5 out of 5 as wildfires in Western Canada, as well as other Eastern provinces continue to burn. As of Sunday, there were 5 new wildfires reported.
Building Materials Costs Decline Month-Over-Month in April
The prices of goods used in residential construction ex-energy declined 0.2% in April, not seasonally adjusted. Year-to-date, the index has gained 0.5%, which is the smallest April YTD increase since it increased 0.3% over the first four months of 2020.
Adams Lake Band Moving Ahead With Business Venture to Provide Value-Added Manufacturing
According to Penticton Western News, the Adams Lake Indian Band, a member of the Secwepemc (Shuswap) Nation, is moving ahead with a business venture to sustain forests while providing value-added manufacturing and long-term employment.
University of Maine Joins National Science Foundation-Backed Coalition for Forestry Research and Product Development in Northern New England
The University of Maine will use $1 million from the National Science Foundation to partner with research institutions and community organizations across Northern New England to devise new forest products and management strategies.
US Mortgage Delinquency Rate Drops in 2023Q1—Lowest Q1 Since 1979
The Mortgage Bankers Association released its Q1 National Delinquency Survey for mortgage loans on one-to-four-unit residential properties. The delinquency rate on such properties decreased to a seasonally adjusted rate of 3.56% of all outstanding loans at end of Q1.