The ABC Construction Backlog Indicator increased to 8.5 months, up 0.3 months from a year ago.
Wood Markets News
Mortgage Applications Decline in the Week Ending April 11
Mortgage loan application volume decreased 8.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Fannie Mae Panel Expects Slower Home Price Growth in 2025 and 2026
A panel of more than 100 housing experts forecasts home price growth to average 3.4% in 2025 and 3.3% in 2026, Fannie Mae reported.
Canadian Housing Starts Fall 3.3% in March
Housing starts in Canada declined 3.3% in March to 214,155 units (SAAR), CMHC reported.
Labor Dispute at UPM Plywood Mills in Finland Continues as Union Rejects Latest Offer
The labor dispute between UPM Plywood in Finland and the Industrial Union remains unresolved, and the strike at UPM’s Finnish plywood mills will continue.
Canadian Housing Demand and Home Prices Continue to Trend Lower in March
Sales activity sank 4.8% in March, CREA reported. Home sales are now down 20% from their recent high recorded last November.
Canadian Consumer Price Index Moderates in March
The all-items CPI increased 2.3% year-over-year in March, down from a 2.6% increase in February.
Jasper Lumber Company Nearing Completion of Mill Upgrades in Jasper, AL
Jasper Lumber Company is nearing completion of a $135-million upgrade to its sawmill facility in Jasper, Alabama, Trade & Industry Development reported.
March Ice Storm Damages 920,000 Acres of State Forestland in Michigan
Approximately 919,500 acres of state forests have been damaged in Northern Michigan in the aftermath of a severe ice storm in March, MLive reported.
Godfrey Wood Products’ Plans for New OSB Mill in Jay, ME, Hit by Tariff Headwinds
Godfrey Wood Products has all of the permits but hasn’t been able to move forward with construction because of uncertainty with tariffs, WMTV reported.