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%.
Wood Markets News
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.
US National Interagency Fire Center Wildfire Update for the Week Ending May 12th
The number of large new fires or emergency responses as of May 12th was 2. The number of active large fires (not including individual fires within complexes) stands at 5. Currently, there are 47,901 acres involved in active fires.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for May
The Index of Consumer Sentiment fell to a reading of 57.7 in May, down from a reading of 63.5 in April. This is a month-over-month decline of 9.1% and down 1.2% year-over-year.
Arbec’s Lumber Mill in Lac-Saint-Jean, Quebec, to Suspended Sawmilling Through End of May
According to Le Journal de Québec, Remabec, the parent company and owner of the Arbec lumber mill located in Lac-Saint-Jean, Quebec, announced last Friday that it was suspending sawmilling activities at the facility until the end of May.
Construction Input Prices Down for Second Consecutive Month in April, Associated Builders and Contractors Reports
According to Associated Builders and Contractors analysis of Producer Price Index (PPI) data released Thursday, construction input prices increased 0.2% month-over-month in April. Nonresidential construction input prices rose 0.4%.