US existing-home prices rose 0.3% month-over-month in May—the smallest increase on a seasonally adjusted basis since January 2023—Redfin reported.
Wood Markets News
EU Countries Approve Nature Restoration Plan
On Monday, European Union countries gave final approval to a major and long-awaited plan to better protect nature in the 27-nation bloc, ABC News reported.
US Logger Survey Identifies Industry’s Headwinds
The July-August issue of Timber Harvesting includes its recent 2024 Logger Survey, which showed that logging contractors across the country are struggling with rising costs and declining demand.
US Commercial/Multifamily Mortgage Debt Outstanding Increases to $40.1 Billion in Q1
The level of commercial/multifamily debt outstanding increased 0.9% to $40.1 billion in Q1, MBA reported.
Canadian Job Vacancies Decline in Q1
Job vacancies declined 3.6%, or 24,300, to 648,600 in Q1. This marks the seventh consecutive quarterly decline.
Metsä Group and ANDRITZ Consider Building a Carbon Capture Facility in Connection With a Bioproduct Mill
Metsä Group and the technology company ANDRITZ will jointly investigate the possibility of building a carbon capture facility in connection with the bioproduct mill.
New Zealand’s Tallest Commercial Timber Building Proposed in Auckland
Jame Kirkpatrick Group has presented plans to redevelop an existing lot with a new 11-story mass timber building, according to a feature by woodcentral.
Arbec’s L’Ascension, QC, Sawmill Pauses Production Due to High Fiber Costs
Rémabec said its Arbec sawmill in l’Ascension, Quebec, will temporarily cease production for at least the next four weeks, Le Journal de Québec reported.
Canadian Housing Starts Rise in May
The standalone SAAR of total housing starts for all areas in Canada in May was 264,506 units—a month-over-month increase of 10%—CMHC reported.
Investment in Canadian Building Construction Declines in April
Investment in building construction decreased 2.0% month-over-month to $20.5 billion (CAD) in April.