US home prices grew 0.5% in August on a seasonally adjusted basis, the largest month-over-month increase since April, Redfin reported.
Wood Markets News
Mortgage Applications for New-Home Purchases Unchanged in August
Mortgage applications for new-home purchases were unchanged month-over-month but were up 4.4% year-over-year in August, MBA reported.
US Department of Agriculture Announces Appointments to Softwood Lumber Board
The USDA announced the appointment of six members to serve on the Softwood Lumber Board for three-year terms beginning January 1st, 2025.
US Builder Confidence Inches Higher in September as Mortgage Rates Decline
The NAHB/Wells Fargo Housing Market Index increased 2 points to a reading of 42 in September.
Canadian Consumer Price Index Increases 2.0% Year-Over-Year in August
The Canadian Consumer Price Index (CPI) increased 2.0% year-over-year in August. This the slowest pace since February 2021.
Canadian Home Sales Trend Higher in August
Home sales increased 1.3% month-over-month in August to the highest level since January and the second highest level in over a year, CREA reported.
BC Announces Additional Support for Wood Products Manufacturing
BC announced new support for forest-sector manufacturers: Kruger Kamloops Pulp Mill and Power Wood Corporation.
Brink Group Eager to Purchase Canfor Assets in Fort St. John, Vanderhoof, Houston, and Bear Lake, BC
Brink Group has made a proposal to Canfor to buy its mills and timber harvesting rights in Bear Lake, Vanderhoof, and Fort St. John, BC, Vancouver Is Awesome reported.
Norra Timber Announces Long-Term Investment Plan for Its Sawmill in Hissmofors, Sweden
Norra Timber recently announced a three-phase upgrade of its Hissmofors, Sweden, sawmill with an investment of up to SEK 150 million (US$14.8 million).
Average Time to Complete a Multifamily Building in 2023 Increased to 19.9 Months
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, the Census Bureau and NAHB reported.