US home prices increased 0.5% month-over-month and 7.3% year-over-year, on a seasonally adjusted basis, Redfin reported.
Wood Markets News
US National Interagency Fire Center Wildfire Update For May 21st
The US National Interagency Fire Center reported a significant increase in wildland fire activity in multiple geographic areas.
Canadian Consumer Price Index Declines Month-Over-Month in April
Year-over-year, the CPI rose 2.7%, down from a 2.9% gain in March. Broad-based deceleration in headline CPI was led by declines in food prices, cost of services, and durable goods.
US Median Home-Sale Price Increases in April, Setting Yet Another Record
The median US home-sale price increased 6.2% year-over-year to $433,558 in April—the highest level on record—Redfin reported.
Custom Home Building Slows in Q1
There were 34,000 total custom building starts during Q1, NAHB reported. This marks an almost 3% decline compared to 2023Q1.
Share of Mortgage Loans in Forbearance Holds Steady in April
The number of loans in forbearance as of April 30th remained unchanged from March, holding at 0.22% of servicers’ portfolio volume, MBA reported.
BC Updates Provincial Building Code to Expand Use of Mass Timber
BC has made changes to the provincial building code to expand the use of mass timber in buildings, such as schools, shopping centers, and housing, the Equipment Journal reported.
Timberlab to Purchase the Assets of American Laminators
Timberlab and Diversified Wood Resources, doing business as American Laminators, have entered into an agreement for Timberlab to acquire the assets of American Laminators.
Canadian Railroad Work Stoppage Unlikely to Occur Within 60 Days
CPKC says it’s unlikely that its engineers, conductors, and rail traffic controllers can strike or be locked out within the next 60 days, Trains reported.
Canadian Housing Starts Decline 1.0% Month-Over-Month in April
The seasonally adjusted annual rate for housing starts in Canada decreased 1.0% in April to 240,229 units, down from 242,267 units in March, CMHC reported.