The Canadian Real Estate Association (CREA) reported on Friday that home sales recorded over the Canadian MLS® System dipped from August to September by 3.9%. CREA notes that from May through August, month-over-month declines have been progressively growing smaller.
Wood Markets News
US National Interagency Fire Center Wildfire Update for October 17th: 1 of 72 Partially Contained
The US National Interagency Fire Center (NIFC) reported on Monday that the total number of large wildfires and complexes currently burning in the US continues to hold steady at 72, unchanged from last week’s report. More than 776,012 acres are currently burning across 6 different states.
Slowing Growth in Finnish Forests Jeopardizes the Country’s Ability to Meet Its Climate Goals
Researchers predict that the total growth of Finland’s forests will drop well below estimates calculated by the Natural Resource Institute of Finland. They further predict that forests will inevitably remain at a lower level for the next several decades.
Proposed Habitat Conservation Plan Could Negatively Impact Oregon County’s Annual Revenue
Oregon’s Clatsop County Board of Commissioners voted 4 to 1 for a proclamation opposing a conservation plan that would limit logging in state forests. The Oregon Department of Forestry plan would protect species under the Endangered Species Act by creating protected habitat across nearly 640,000 acres.
Dry and Unusually Warm Temperatures Extend Wildfire Season in Oregon and Washington
In Oregon and Washington, wildfire season usually begins to taper off with the start of fall. This year, however, dry and unusually warm temperatures have played a role in stimulating late-season fires.
Stora Enso Launches Sylva™ Building Solutions for Low Carbon Construction
Stora Enso OYJ on Tuesday launched its new sustainable and innovative construction solutions, Sylva™ by Store Enso. Sylva is a massive wood building kit comprised of pre-manufactured, custom-made applications delivered just-in-time to the building site.
University of Michigan Preliminary Consumer Sentiment Index Increases for October 2022
The University of Michigan released its Preliminary Consumer Sentiment Index for October. The Index of Consumer Sentiment increased to a reading of 59.8, up from its reading of 58.6 in September. This is a month-over-month increase of 2.0% but down 16.6% year-over-year (71.7 in October 2021).
Remodeler Sentiment Remains Positive in 2022Q3 but Down Year-Over-Year
The National Association of Home Builders/Westlake Royal Remodeling Index (RMI) posted a reading of 77 in 2022Q3. That is a year-over-year decline (2021Q3) of 10 points. An overall RMI of 77 points to positive remodeler sentiment.
Consumer Price Index Increases 0.4% in September; All-Item Index Up 8.2% Year-Over-Year
The US Bureau of Labor Statistics reported on Thursday that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% in September on a seasonally adjusted basis. Over the past 12 months, the all-item index has increased 8.2% before seasonal adjustment.
Royal Park Canvas Hotel, the First Hybrid Timber High-Rise Hotel in Japan, Opens in Downtown Sapporo
The Royal Park Canvas Hotel, located in downtown Sapporo on the island of Hokkaido, Japan, has recently been completed. The 11-story hybrid timber hotel was created by Mitsubishi Jisho Design for the real estate firm Mitsubishi Estate Group.