The BC Government released an update on work underway in response to the 14 recommendations made by an independent panel in a 2020 review of BC’s old forests.
Wood Markets News
US Existing-Home Sales Declined Month-Over-Month and Year-Over-Year in April
Total existing home sales declined 1.9% month-over-month in April to a seasonally adjusted annual rate (SAAR) of 4.14 million, NAR reported.
Mortgage Applications Rise in the Week Ending May 17th—Third Consecutive Increase
Mortgage loan application volume increased 1.9% on a seasonally adjusted basis from one week earlier, MBA reported.
US Single-Family Home Size Continues to Shrink in Q1
The median single-family floor area came in at 2,140 square feet in Q1, the lowest reading since the second half of 2009, the NAHB and Census Bureau reported.
Fannie Mae ESR Group Modifies Expectations for 2024 Housing Activity
The ESR Group expects housing activity will slow modestly compared to previous projections, if the broad upward movement in mortgage rates since the start of the year is sustained.
Southern Forest Products Association Receives $1.24 Million in USDA Funding to Expand Exports
The SFPA has received $1.24 million in funding over the next five years from the USDA Foreign Agriculture Service’s Regional Agricultural Promotion Program (RAPP).
US Home Prices Climb 7.3% Year-Over-Year in April
US home prices increased 0.5% month-over-month and 7.3% year-over-year, on a seasonally adjusted basis, Redfin reported.
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.