The NAR Pending Homes Sales Index increased 2.2% to a reading of 79.0 in November. Year-over-year, pending sales rose 6.9%.
Wood Markets News
US State-Level Construction Employment Data for November
The construction industry gained a net 10,000 jobs in November, the BLS and NAHB reported. Employment (both residential and nonresidential) increased in 23 states and the District of Columbia.
Unemployment Rates Higher Year-Over-Year in 308 of 389 US Metropolitan Areas in November
Unemployment rates in November were higher than a year earlier in 308 of the 389 metropolitan areas, lower in 60 areas, and unchanged in 21 areas.
Ontario’s Amended Building Code Now Permits Mass Timber Construction Up to 18 Stories
An amendment to the Ontario building code permitting encapsulated mass timber construction up to 18 stories, an increase from the previous limit of 12, took effect on January 1, Storeys reported.
Polyhaus Develops Innovative Mass Timber Tiny Home
Polyhaus, a new metal-clad CLT system could be a game changer for building low-cost Californian houses out of mass timber, according to a feature by Wood Central.
Conifex to Transition to Two Shifts at Its BC Sawmill
Conifex Timber announced that it has amended and restated its existing credit agreement with PenderFund Capital Management.
Court-Appointed Receiver Continues Sale of Allegheny Wood Products Sawmills
Allegheny Wood Products (AWP) is continuing to sell its hardwood sawmills and kilns in West Virginia and Pennsylvania, Hardwood Floors Magazine reported.
Talks to Prevent East and Gulf Coast Dockworker Strike Set to Resume Next Week
Talks between the ILA and USMX are set to resume on January 7, little more than a week before the current contract extension expires, FreightWaves reported.
Nonresidential Construction Spending Declines 0.1% in November
Nonresidential construction spending declined 0.1% in November, the Census Bureau and ABC reported. On a seasonally adjusted annual basis, spending reached $1.234 trillion.
Sweden’s Mellanskog Raises Timber Prices
Mellanskog announced it was raising the price of pine and spruce logs, citing continuing strong demand for timber from family forestry in central Sweden.