This marks a pause in the trend of declining activity since the beginning of the year, CREA reported. The National Composite MLS Home Price Index declined 1.2%.
Wood Markets News
US Weekly Initial Jobless Claims Unchanged in the Week Ending May 10
The advance figure for seasonally adjusted initial unemployment claims was 229,000, unchanged from the previous week’s revised total.
Montana Lawmakers Create Low-Interest Loan Program for Reopening Shuttered Sawmills
State lawmakers recently passed a bill establishing a low-interest loan program for companies seeking to reopen shuttered mills, NBC Montana reported.
Value of Canadian Building Permits Declines 4.1% in March
The value of building permits issued in Canada decreased by 4.1% to CA$12.9 billion in March. Residential construction intentions rose 2.0% to $8.7 billion.
New York City’s Largest Mass Timber Residential Project Slated for Staten Island
Artimus and Phoenix Realty Group have been selected to build over 500 new mixed-income housing units on the north shore of Staten Island using mass timber.
US Mortgage Applications Trend Higher in the Week Ending May 9
Mortgage loan application volume increased 1.1% on a seasonally adjusted basis from one week earlier, MBA reported.
Michigan Department of Natural Resources Opens New Mass Timber Center
The 10,000-square-foot facility is constructed from mass timber using locally sourced Michigan red pine, UPword Michigan reported.
US Consumer Price Index Rises 2.3% Year-Over-Year in April
Over the 12 months ending in April, the all-items index rose 2.3%, down from a 2.4% increase over the prior 12-month period.
Kitselas First Nation Expands Its Role in the Forestry Sector
Kitselas First Nation is expanding its role in the forestry sector with the purchase of a new forest tenure from A&A Trading Ltd, CFNR Network reported.
Sweden’s Holmen Reduces Production at Its Bråviken Sawmill
Holmen is giving notice to about a third of its employees at its sawmill outside Norrköping, Sweden, Skogsindustrin reported.