Privately‐owned housing starts were at a seasonally adjusted annual rate of 1,353,000 in June. This is 3.0% above the revised May estimate of 1,314,000.
Wood Markets News
BC to Support Upgrades at Mercer Mass Timber Facility in Okanagan Falls
BC’s contribution of as much as $7 million (CAD) has provided an incentive for Mercer Mass Timber to invest in the future of their Okanagan Falls facilities.
Canada Unveils Country’s First Green Buildings Strategy
The CGBS will drive energy efficiency improvements in Canadians’ homes and buildings, with a key focus on addressing affordability and reducing greenhouse gas emissions.
Silo Fire Extinguished at West Fraser Mill in 100 Mile House, BC
A fire was extinguished at West Fraser’s 100 Mile Lumber sawmill in 100 Mile House, BC, on Saturday, the 100 Mile Free Press reported (7-13-24).
Mortgage Applications Increase in the Week Ending July 12th
Mortgage loan application volume increased 3.9% on a seasonally adjusted basis from one week earlier, MBA reported.
US Apartment Rent Growth Trails Expectations Through Q2
RealPage’s delivery pipeline anticipates just over 629,000 apartments will be delivered in calendar 2024. However, supply is expected to drop by roughly 20% in 2025.
US Builder Confidence Drops for Third Consecutive Month in July
The NAHB/Wells Fargo Housing Market Index showed builder sentiment in the market for newly built single-family homes fell 1 point from June to a reading of 42 in July.
Additional Existing Homes For Sale Slows Home Value Appreciation
The total number of homes on the market has risen throughout the year, ticking up 4% from May to June to stand nearly 23% above last year’s low level, Zillow reported.
Oregon to Receive Out-of-State Assistance to Combat Multiple Wildfires
The Oregon State Fire Marshal and the Oregon Department of Forestry announced that they are bringing in out-of-state firefighters and equipment to help fight several wildfires.
Canadian Housing Starts Decline in June
The Canada Mortgage and Housing Corporation (CMHC) reported that the trend in housing starts was 247,205 units in June.