Woodgrain, a manufacturer and distributor of millwork and building materials, has entered into an asset purchase agreement to acquire Kelleher Corporation.
Wood Markets News
Canadian Housing Starts Decline 13% in December
Housing starts for all areas in Canada decreased 13% in December (231,468 units, SAAR), CMHC reported.
Mortgage Applications for New US Home Purchases Decline 3% in December
Mortgage applications for new-home purchases declined 3%, unadjusted, in December, MBA reported.
New Forests Secures AU$600 Million for Its Australia New Zealand Landscapes and Forestry Fund
New Forests announced the final close of the Fund, raising approximately AU$600 million from institutional investors from across Europe and Asia-Pacific.
BC Awards CA$5.1 Million to Support Forest Products Manufacturing
BC is contributing CA$5.1 million through the BC Manufacturing Jobs Fund toward seven forest-sector capital projects and five planning projects.
US Builder Confidence Inches Higher in January
Builder sentiment in the market for newly built single-family homes rose in January, according to the NAHB/Wells Fargo Housing Market Index.
US Remodeler Sentiment Trends Higher in Q4
The NAHB/Westlake Royal Remodeling Market Index posted a reading of 68 in Q4, a 5-point gain from the previous quarter.
US 30-Year Mortgage Rates Surpass 7% for the First Time Since May 2024
The 30-year fixed-rate mortgage averaged 7.04%, up from last week when it averaged 6.93%, Freddie Mac reported.
US Multifamily Markets End 2024 With Lower Asking Rents
Advertised asking rents declined $4 to $1,742 in December, Yardi reported. Year-over-year, growth slowed to 0.6%, the 16th consecutive month with increases below 1%.
US Weekly Initial Jobless Claims Increase in the Week Ending January 11
The advance figure for seasonally adjusted initial unemployment claims was 217,000, an increase of 14,000 from the previous week’s revised level.