The index rose to a reading of 54 last week, the highest level since May 2022. Over the last month, the index has gained 3 points.
Wood Markets News
University of Toronto’s St. George Campus to Be Home to Tallest Academic Timber Structure in Canada
When completed in 2026, the 14-story building will become the tallest academic timber structure in Canada and one of the tallest mass timber and steel hybrid buildings in North America.
UK Imports Down but Prices Stabilize in Q1, Timber Development UK Reports
Timber imports saw weaker volumes during Q1 than in 2023Q1, and greater price stability for many timber and panel products has continued in recent months, TDUK reported.
Showcase in DC Demonstrates How to Build 2400-Square-Foot House in Just 8 Hours
The Structural Components Association in partnership with 84 Lumber and the National Framers Council built a two-story, 2,400 square-foot house on the National Mall in just under eight hours.
US National Interagency Fire Center Wildfire Update for June 10th
There are currently nine large, uncontained wildfires being managed with full suppression strategies in Arizona, Florida, New Mexico, and Washington.
Fannie Mae’s Home Purchase Sentiment Index Falls Again in May
The May HSPI decreased 2.5 points to 69.4 as the component measuring consumer attitudes toward homebuying conditions fell markedly, reaching an all-time survey low.
BC Reduces Sunshine Coast Timber Supply Area Allowable Annual Cut by 12.3%
Effective immediately, the new AAC for the Sunshine Coast TSA is 1,050,000 cubic meters, a 12.3% reduction but 2% above the average harvest level over the past decade.
US Wood Pellet Exports Decline Month-Over-Month but Rise Year-Over-Year in April
The US exported 819,341.5 metric tons of wood pellets in April, down from 938,662.3 metric tons in March, a Biomass Magazine review of USDA data shows.
Nonresidential Employment Leads the Construction Sector Higher in May
Residential construction gained 3,500 jobs, and nonresidential construction employment added 17,100 jobs, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 272,000 in May; Unemployment Increases to 4.0%
Total nonfarm payroll employment increased by 272,000 in May. This is above the average monthly gain of 232,000 over the prior 12 months.