The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 2,000 from the previous week’s revised total.
Wood Markets News
Canada Announces Support for British Columbia’s Forest Sector
Canada announced CA$20 million for 67 projects that will help to boost the competitiveness and resiliency of British Columbia’s forest sector.
US Mortgage Applications Decline in the Week Ending March 14
Mortgage loan application volume decreased 6.2% on a seasonally adjusted basis from one week earlier, MBA reported.
New Zealand and India Agree to Strengthen Forestry Ties
The Memorandum of Cooperation is aimed at reinforcing New Zealand’s commitment to enhancing collaboration with India in the forestry sector.
US Renter Population Increases in Q4
The number of renter households in America increased 0.8% year-over-year to 45.4 million in Q4, the slowest growth since 2023Q1, Redfin reported.
Construction Underway on 31-Story Mass Timber Tower in Milwaukee, WI
Construction has started on a 31-story, 378-unit mass timber mixed-use high rise in downtown Milwaukee, Wisconsin, according to The Daily Reporter.
US Housing Starts Increase in February, While Permits and Completions Decline
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000, 11.2% above the revised January estimate.
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.