The total value of building permits in Canada declined 11.7% month-over-month to $10.5 million (CAD) in March.
Wood Markets News
US Land Acquisition, Development, and Construction Financing Costs Increase in Q1
Land acquisition, development, and construction (AD&C) financing tightened slightly and remained costly during Q1, NAHB reported.
US Forest Service Plans Six Prescribed Fires in Boise, ID, Area Starting This Week
Boise National Forest fire managers plan six prescribed fires totaling 1,354 acres starting this week, the Capital Press reported.
US National Interagency Fire Center Wildfire Update for the Week Ending May 10th
The number of active large fires (not including individual fires within complexes) stands at 6. Currently, there are 8,965 acres actively involved in fires.
BC Government Helps Tolko Industries Expand Its Heffley Creek Operation
BC announced up to $8 million (CAD) to help Tolko expand its Heffley Creek operation, including construction of a facility to house a new Heffley Creek Engineered Wood Division.
Canadian Government Takes Steps to Delay Start of Possible Railroad Strike
Citing potential safety concerns, the Canadian government is moving to push back the start of a possible strike by railway workers at CN and CPKC, which could start as early as May 22nd, Reuters reported.
Canadian Wildfire Season Off a to Slower Start Than 2023, but Risk From Drought Remains High
The start of wildfire season in Canada has been far less intense than it was last year, but the risk of hot, dry weather and severe fires remains high, The Canadian Press reported.
Canadian Employment Increases 0.4% in April; Unemployment Steady at 6.1%
Employment in Canada rose by 0.4%, or 90,000 jobs, in April, following little change in March.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for May
The University of Michigan Index of Consumer Sentiment declined to a reading of 67.4 in May. This is a month-over-month decline of 12.7% but up 14.2% year-over-year.
Houston Texas to Get Its First Mass Timber Office Building
Howard Hughes Holdings is building greater Houston’s first mass timber office building, One Bridgeland Green, Connect CRE reported.