Total commercial real estate mortgage borrowing and lending is estimated to have totaled $429 billion in 2023, a 47% decline from 2022, MBA reported.
Wood Markets News
West Fraser Completes the Sale of Its Quesnel River Pulp and Slave Lake Pulp Mills to Atlas Holdings
West Fraser has completed the sale of its Quesnel River Pulp mill in BC and its Slave Lake Pulp mill in Alberta to an affiliate of a fund managed by Atlas Holdings.
Alberta Gives First Wildfire Update of the Season: Activity Already Above Last Year
Alberta held its first weekly wildfire update, just days after a fire north of Obed Lake caused by a pipeline rupture quickly burned 60 hectares, Canadian Forest Industries reported.
Canadian Industrial Product and Raw Materials Price Indexes Post Month-Over-Month Increases in March
The Industrial Product Price Index (IPPI) increased 0.8% on a monthly basis, following a 1.1% increase in February. Year-over-year, the IPPI posted a 0.5% decline.
US National Interagency Fire Center Wildfire Update for the Week Ending April 19th
As of Friday, April 19th, 18 new large wildfires were reported in the last week. Currently, 3 large uncontained wildfires are burning in Kansas, North Carolina, and Virigina.
Canada’s New Housing Price Index Unchanged in March
The Canadian New Housing Price Index was unchanged month-over-month but down 0.4% year-over-year in March.
Rayonier Announces Sale of 115,250 Acres of Timberland in Washington
Rayonier is selling 115,250 acres of timberland in Washington that it has owned for almost 80 years, the Peninsula Daily News reported.
Canadian Investment in Building Construction Declines in February
Investment in Canadian building construction declined 1.1% month-over-month to $19.3 billion in February.
Europe’s Pfeifer Group Optimizing Facilities to Meet Market Demand
Pfeifer Group has optimized manufacturing at its sawmill in Chanovice, Czech Republic, and its CLT facility in Schlitz, Germany, according to the Timber Trades Journal.
US Median Home Sales Price Increases 5% Year-Over-Year—Just Shy of All-Time High
The median price increased 5% year-over-year to $380,250, just $3,095 shy of the all-time high in June 2022.