Lumber and other wood products had the largest downward impact on the IPPI’s month-over-month movement in April, falling 1.3%.
Wood Markets News
BC Moves to Streamline and Standardize the Local Building Permit Process
BC announced a new digital Building Permit Hub to help streamline the permitting process and to get more homes built faster.
Dodge Construction Network Reports Construction Starts Rose 6% in April
Dodge Construction Network reports that total construction starts rose 6% in April to a seasonally adjusted annual rate of $1.13 trillion.
BC to Provide Economic Support for Expansion of Kalesnikoff’s Castlegar Mass Timber Facility
BC is contributing as much as $6.7 million (CAD) to help Kalesnikoff grow its operations by establishing a new prefabricated mass timber and CLT modular facility.
US Apartment Investment Continues to Drop in Q1
According to MSCI Real Capital Analytics, nearly 1,040 apartment properties changed hands at a value of $20.6 billion in Q1.
US National Interagency Fire Center Wildfire Update for Week Ending May 24th
As of Friday, 10 new large wildfires have burned 38,606 acres in 6 states. On Thursday, firefighters contained the Peg Leg and Wolf fires in Arizona.
J.D. Irving’s Dixfield, ME, Sawmill Adds Baled Shavings to Its Value-Added Offerings
J.D. Irving’s Dixfield, Maine, sawmill is enhancing its offerings by introducing baled wood shavings as part of their available value-added products.
Cooper Lumber Acquires Thomasville Lumber
Cooper Lumber has acquired Thomasville Lumber Company and its sawmill in Thomasville, Alabama, Building Projects Digest reported.
US Median Home-Sale Price Hits New High in Four-Week Period Ending May 19th
During the four-week period ending May 19th, the median US home-sale price hit a record $387,600, Redfin reported.
NAHB/Wells Fargo Debut New Cost of Housing Index for Q1
The CHI reveals that a typical family must spend 38% of its income to cover the mortgage payment on a median priced new single-family home.