Existing-home sales in Canada rose 0.7% in April as new listings increased and the sales-to-new listings ratio eased to 45.6%, CREA reported.
Wood Markets News
Africa’s First FSC-Certified Timber Stadium Opens in Lesotho
The Stadium of Life in Maseru, Lesotho, is Africa’s first stadium built using sustainably sourced FSC-certified timber, Global Construction Review reported.
US Weekly Initial Jobless Claims Increase in the Week Ending May 9
The advance figure for seasonally adjusted initial unemployment claims was 211,000, an increase of 12,000 from the previous week.
Ontario Invests CA$10 Million in Georgia-Pacific’s Englehart OSB Facility
Ontario is investing CA$10 million in Georgia-Pacific’s CA$191 million modernization project at its Englehart, ON, OSB facility.
Swiss Krono to End Laminate Flooring Production in Barnwell, SC
Swiss Krono will end laminate flooring production at its Barnwell, SC, facility, with layoffs beginning July 11, The People Sentinel reported.
US Residential Construction Input Prices Rise in April
Prices for inputs to new residential construction rose 5.9% year-over-year in April, the BLS and NAHB reported.
US Multifamily Starts Decline in Q1
US apartment construction starts fell to 55,000 units in Q1, down 73% from their 2022 peak, Apartments.com and CoStar reported.
BC Awards CA$2 Million Grant to FPInnovations for Forest Sector Growth
BC provided a CA$2 million grant to FPInnovations for Make More in BC, a project supporting forestry-sector economic hubs and local manufacturing.
US Mortgage Rates Tick Down in the Week Ending May 14
The 30-year fixed-rate mortgage averaged 6.36%, down from 6.37% the previous week, Freddie Mac reported.
Former International Paper Sawmill Reopens as Wilkes Lumber Company in Georgia
A former International Paper sawmill in Washington, GA, reopened as Wilkes Lumber Company and began operations on April 1.