The median US home-sale price increased 6.2% year-over-year to $433,558 in April—the highest level on record—Redfin reported.
Wood Markets News
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.
Investment in Canadian Building Construction Up 4.5% in March
Investment in building construction increased 4.5% month-over-month to $20.4 billion (CAD) in March.
Single-Family Built-For-Rent Starts Expand 20% Year-Over-Year in Q1
There were approximately 18,000 single-family built-for-rent starts during Q1, 20% higher than 2023Q1, the Census Bureau and NAHB reported.
EU Extends Antidumping Tariffs on Imported Birch Plywood From Russia to Kazakhstan and Turkey
The extension follows an investigation which concluded that EU anti-dumping duties on imports of birch plywood from Russia were being circumvented by imports transshipped from Russia to Kazakhstan and Turkey.