Investment in Canadian building construction declined 1.7% to $20.9 billion (CAD) in July, following an increase of 2.7% in June.
Wood Markets News
Mortgage Applications Rise in the Week Ending September 13th—Fourth Consecutive Increase
Mortgage loan application volume increased 14.2% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Housing Starts Decrease 22% in August
The total monthly SAAR of housing starts decreased 22% to 217,405 units in August, down from 279,804 units in July, CMHC reported.
US Home Prices Increase 6.7% Year-Over-Year in August
US home prices grew 0.5% in August on a seasonally adjusted basis, the largest month-over-month increase since April, Redfin reported.
Mortgage Applications for New-Home Purchases Unchanged in August
Mortgage applications for new-home purchases were unchanged month-over-month but were up 4.4% year-over-year in August, MBA reported.
US Department of Agriculture Announces Appointments to Softwood Lumber Board
The USDA announced the appointment of six members to serve on the Softwood Lumber Board for three-year terms beginning January 1st, 2025.
US Builder Confidence Inches Higher in September as Mortgage Rates Decline
The NAHB/Wells Fargo Housing Market Index increased 2 points to a reading of 42 in September.
Canadian Consumer Price Index Increases 2.0% Year-Over-Year in August
The Canadian Consumer Price Index (CPI) increased 2.0% year-over-year in August. This the slowest pace since February 2021.
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.