Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000, 11.2% above the revised January estimate.
Wood Markets News
Canadian Housing Starts Decline in February
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada decreased 4% in February to 229,030 units, CMHC reported.
US Existing-Home Prices Rise in February at the Slowest Pace Since July 2024
US home prices grew 0.4% in February on a seasonally adjusted basis, the slowest pace since July 2024, Redfin reported.
EU Warns of High Risk of Plywood Sanctions Evasion
On Friday, the European Commission issued an alert warning of a high risk of sanctions circumvention in plywood imports.
CPKC Announces New Collective Agreement With United Steelworkers
CPKC railroad announced that United Steelworkers, representing approximately 600 clerical and intermodal employees in Canada, has ratified a new four-year agreement.
State-Level Construction Employment Data for January
Overall, the construction industry added a net 2,000 jobs in January, the BLS and NAHB reported. Employment increased in 23 states.
Canadian CPI Increases 2.6% Year-Over-Year in February
The Consumer Price Index rose 1.1% in February. Year-over-year, the CPI increased 2.6%, following a 1.9% increase in January.
US Builder Confidence Declines for Second Consecutive Month in March
The NAHB/Wells Fargo Housing Market Index fell to a reading of 39 in March, down 3 points in February and the lowest level in 7 months.
Nonresidential Construction Materials Costs Increase 0.6% in February
Nonresidential construction input prices increased 0.6% during February, the BLS and ABC reported. Overall construction input prices were 0.3% higher than one year ago.
Investment in Canadian Building Construction Increases 1.8% in January
Investment in Canadian building construction increased 1.8%, or CA$393.7 million, to $22.1 billion in January.