On Monday, the National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes dropped 2 points lower in December to a reading of 31. This marks the twelfth consecutive monthly decline.
Wood Markets News
Canadian Industrial Product Price Index and Raw Materials Price Index Both Decline Month-Over-Month in November
Statistics Canada on Monday reported that prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPP), fell 0.4% month-over-month in November but remained 9.7% higher than in November 2021. Energy and petroleum products, which were down 2.7%, led the decrease.
New Cross-Laminated Timber Hotel Opens on Danish Island of Bornholm
The Green Solutions House 2.0, a hotel on the Danish Island of Bornholm, has timber providing almost all of the building fabric. The modular building consists of a structural frame of cross-laminated timber (CLT), and exterior of timber boards and a layer of wood fiber insulation.
US Nonfarm Payroll Data for Construction Sector by State for November
A closer look at the Bureau of Labor Statistics Nonfarm Payroll report for November (released on 12-2-22), with focus on the construction sector, reveals that of the 48 states that do report construction sector job data—which includes both residential and non-residential construction—36 states reported an increase in November.
Aspen Planers Announces Temporary Shutdown at Two Facilities in Nicola Valley, BC
According to the Merritt Herald, Aspen Planers, which is locally owned by Surrey-based AP Group, has temporarily shut down their Merritt operations, closing two work sites in the Nicola Valley due to a lack of steady log supply.
Tornadoes Damage $13 Million in Timber in Northeast Texas
According to the Texas A&M Forest Service, a series of tornadoes tracked across Northeast Texas on November 4th damaged timber across more than 10,000 acres. The storms destroyed an estimated $13 million worth of timber. Most of the damage to timber was on private property.
Early-Stage Homebuying Demand Up in November, After Hitting Record Low in October
Redfin reported on Thursday the findings of their Homebuyers Demand Index—a measure of home-tour requests and other services from Redfin agents—is up 10% and mortgage-purchase applications are up 14% from the end of October, when both hit their 2022 lows.
Canadian Wholesale Sales Increase to New Record High in October
Statistics Canada reported on Friday that wholesale sales rose 2.1% in October to $83.4 billion (CAD). Wholesale sales increased in every province in October, with Quebec, BC, and Ontario leading the way and accounting for 78.1% of national sales.
Introducing Westervelt Forest, a 70-Acre Working Forest and Wildlife Demonstration Area
Representatives of the Alabama Wildlife Federation and the Westervelt Company unveiled “Westervelt Forest” with a ribbon cutting ceremony on December 6th. The seventy-acre working forest and wildlife demonstration area, located at AWF State Headquarters in Millbrook, Alabama, will be viewable to the 50,000+ annual visitors.
Canadian Housing Starts Decline 0.2% in November
The Canadian Mortgage and Housing Corporation reported on Thursday that November’s standalone monthly seasonally adjusted annual rate of total housing starts for all areas in Canada declined 0.2% month-over-month to 264,159 units, compared to 264,581 units in October.