Statistics Canada reported today that the total value of building permits in Canada jumped 14.1% in November to $11.0 billion (CAD), ending two consecutive months of declines. On a constant dollar basis (2012=100), the total value of building permits rose 12.3%.
Wood Markets News
New Zealand Farmers Push Back Against Afforestation Plans
A group of New Zealand farmers is trying to raise $45 million (NZD) (£25m) to purchase a large North Island farm, or station, from being purchased by overseas investors to prevent it from potentially being turned into a carbon forest. The 5000ha Mangaohane Station is a livestock farm.
World’s First 3D-Printed House Completed in Maine
The world’s first 3D-printed house—made entirely with bio-based materials such as wood flour, or fine sawdust, mixed with a binder made from corn—has come to life thanks to the University of Maine’s Advanced Structures and Composites Center (ASCC), which spearheaded building BioHome3D in Orono, Maine.
US Freight Railroad and Intermodal Usage Slips in 2022
According to data released by the Association of American Railroads on Thursday, the US operations of freight railroads handled 25.4 million carloads and intermodal units in 2022. This is down 2.8% from 2021.
Belarus to Increase Rail Shipments to China
The Belarusian Telegraph Agency (BelTA), Belarus’ largest news agency, reported on Thursday that the country is increasing freight shipments to China via rail.
Home Seller Concessions Are Back
Redfin, the Seattle-based, technology powered real estate brokerage firm, reported on Thursday that in Q4, some sellers gave concessions to buyers in 41.9% of sales. This is the highest share of any three-month period in Redfin’s records.
US Nonfarm Payroll Increases by 223,000 in December; Unemployment Dips to 3.5%
The US Bureau of Labor Statistics reported today that total nonfarm payroll employment increased by 223,000 in December. Payroll employment increased by 4.5 million in 2022—an average monthly gain of 375,000. The unemployment rate dipped to 3.5%.
Canadian Employment Increased and Unemployment Declined in December
Statistics Canada (StatsCan) reported on Friday (1-6-23) that employment in Canada rose by 104,000, or 0.5%, in December. Employment had previously peaked in May 2022, followed by a downward trend that lasted through August. As a result of cumulative gains since then, employment in December was 130,000, or 0.7%, above its May level.
Construction Labor Market Experiences Further Decline in Job Openings in November
A closer look at the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) for November reveals that the construction labor market in November experienced another month of shrinking job openings, as the housing market continued to cool.
30-Year and 15-Year Fixed-Rate Mortgages Move Higher
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending January 5th. The 30-year fixed-rate mortgage averaged 6.48%, up from last week when it averaged 6.42%. A year ago at this time, the 30-year rate averaged 3.22%.