Wood Markets News


Canadian Building Permits Decline in December

Statistics Canada (StatsCan) reported today (2-2-22) that the total value of building permits decreased -1.9% to $11.2 billion (CAD) in December. Declines were reported in both the residential and non-residential sectors. On a constant dollar basis (2012=100), the total value of building permits decreased -3.1%.

New White Paper Released on Mass Timber Construction in the UK

The RICAAuthority, an annually funded research scheme supported by 24 major United Kingdom insurers, has just released a new white paper on mass timber construction in the UK. The report, “Insurance Challenges of Massive and Mass Timber Construction,” is recommending that hybrid structures combining traditional and modern method of construction may represent the best route forward to satisfying multiple considerations including insurance risks and carbon reduction.

Residential Vacancies and Homeownership Statistics Released for Q4 2021

The national vacancy rates in Q4 2021 were 5.6% for rental housing and 0.9% for homeowner housing. The rental vacancy rate was -0.9 percentage points lower than the rate in Q4 2020 of 6.5% and not statistically different from the rate in the Q3 2021 of 5.8%. The homeowner vacancy rate of 0.9% was -0.1 percentage points lower than the rate in Q4 2020 of 1.0% and was the same as the rate in Q3 2021, 0.9%.

Construction Job Openings Post Year-Over-Year Gains

A closer look at the construction sector portion of the Bureau of Labor Statistics’ (BLS) Job Openings and Labor Turnover (JOLTS) Summary for December, with further analysis provided by the National Association of Home Builders (NAHB), reveals that construction labor market remains constricted and the number of job openings continues to rise year-over-year.