Existing-home sales in Canada rose 0.5% in July as new listings fell 1.6% and the national sales-to-new listings ratio tightened to 51.3%, CREA reported.
Wood Markets News
US Housing Starts Drop in July; Permits Rise
US housing starts fell 12.4% in July. Permits rose 5.0% and completions fell 9.1%.
USDA Proposes Rescinding 2001 Roadless Rule for National Forests
USDA proposed rescinding the 2001 Roadless Rule, which covers more than 44 million acres and limits road construction in national forests.
US Pending Home Sales Decline in July
Pending home sales fell 2.3% and 2.2% year-over-year in July, reaching their lowest level since January, NAR reported.
Canadian Housing Starts Fall in July
Canadian housing starts fell 5% in July to 229,074 units (SAAR), while the six-month trend edged down 0.5% to 247,377 units, CMHC reported.
Canadian Consumer Price Index Rises 3.0% Year-Over-Year in July
Canada’s CPI rose 3.0% year-over-year in July, up from 2.8% in June. Prices increased 0.5% month-over-month.
Bellevue, WA, Tower Set to Become Tallest Mass Timber Office Building in US
The 12-story Bevel Tower planned for Bellevue, Washington, is expected to become the tallest mass timber office building in the US, dezeen reported.
Millar Western to Temporarily Curtail Quesnel River Pulp Mill
Millar Western will temporarily curtail its Quesnel River Pulp mill for about two months starting in September, the Prince George Citizen reported.
US Builder Confidence for Newly Built Single-Family Homes Rises Slightly in August
The NAHB/Wells Fargo Housing Market Index rose one point to 35 in August. Builder sentiment has remained below 40 for 16 consecutive months.
US Builder Credit Conditions Tighten for 18th Consecutive Quarter
US builder credit conditions tightened for an 18th straight quarter in Q2, while rates rose for land acquisition and development loans, NAHB reported.