Sales were down 5.8% compared to November but still stand 13.0% above May, just before the first rate cut by the Bank of Canada, CREA reported.
Wood Markets News
Effort to Find Buyers for Insolvent Ziegler Group Moves Forward
A letter from the insolvency administrator, reviewed by BR24, indicates that the search for investors for segments of the insolvent Ziegler Group is nearing its initial conclusions.
Mortgage Applications Climb in the Week Ending January 10
Mortgage loan application volume increased 33.3% on a seasonally adjusted basis from one week earlier, MBA reported.
University of Arkansas Receives US Forest Service Grant for Wood Products Innovation
The University of Arkansas received a $300,000 grant from the Forest Service to develop innovative wood products, Arkansas Money & Politics reported.
Unifor Members at Canadian Pacific Kansas City Railway Authorize a Strike
Unifor members of Local 101R at CPKC have voted overwhelmingly in favor of strike action, the union announced.
Canadian Sawmill Production Increases 7.6% in October
Lumber production increased 7.6% to 4,251.3 thousand cubic meters in October. However, year-over-year, production was down 5.2%.
US Residential Construction Inputs Price Growth Moderates in 2024
The price of goods used in residential construction grew 1.7% in 2024, slightly higher than the 1.0% growth in 2023, the BLS and NAHB reported.
US Producer Price Index for Final Demand Increases in December
The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.2% in December, following an increase of 0.4% in November.
Fannie Mae Home Price Index Rises 5.8% Year-Over-Year in Q4
The Fannie Mae Home Price Index increased 5.8% year-over-year in Q4, an acceleration from the previous quarter’s revised annual growth of 5.4%.
NFIB Small Business Optimism Index Reaches Highest Level Since October 2018
The NFIB Small Business Optimism Index increased 3.4 points to a reading of 105.1, the highest reading since October 2018.