The Consumer Price Index (CPI) rose 1.9% year-over-year in November, down from a 2.0% increase in October.
Wood Markets News
Mortgage Applications for US New-Home Purchases Decline 12.0% in November
Mortgage applications for new home purchases declined 12.0% in November but were up 7.2% year-over-year, MBA reported.
New Zealand to Build First Timber Bridge in 50 Years With Glulam
Construction on the first state highway bridge built from timber in 50 years in underway in New Zealand, Wood Central reported.
BC’s Sundher Timber Products Acquires Great Western Lumber in Everson, WA
Sundher Timber Products has recently acquired Great Western Lumber in Everson, Washington, according to BIV.
Fannie Mae ESR Group Releases Its Latest 2025 Housing Market Outlook
According to the ESR Group, affordability and the “lock-in effect” are expected to keep housing activity subdued in 2025, with existing-home sales forecast to move only slightly upward.
Canadian Existing-Home Sales Continue to Rise in November
Existing-home sales rose again in November, building on October’s surprising jump, CREA reported. Sales were up 2.8% and now stand a cumulative 18.4% above May.
Canadian Job Vacancies Decline for the Ninth Consecutive Quarter in Q3
Job vacancies declined 5.5% in Q3, representing 31,900 fewer positions and bringing the total to 546,100 open roles. This marks the ninth consecutive quarterly decline.
Asking Rents for Newly Completed US Apartments Move Higher in Q3
Asking rents for newly constructed apartments rose 1.5% in Q3—the biggest year-over-year increase in 18 months—to a median $1,802, Redfin reported.
New Forestry Activity Could Inject €27 Million Into Rural Ireland’s Economy in 2025
An expected increase in new forestry activity in Ireland could inject more than €27 million (US$28.39 million) into the rural economy next year, the Irish Independent reported.
Maine’s PAL Build Rebrands as NotchSB With Eye on Mass Timber
PAL Build, a mass timber design-build company specializing in panelized CLT and high-performance wood building envelope construction, is now operating under the name NotchSB, Mainebiz reported.