The Consumer Confidence Index® increased to 102.0 (1985=100) in May, up from an upwardly revised April reading of 97.5.
Wood Markets News
FHFA House Price Index Up 6.6% Year-Over-Year in Q1
The FHFA House Price Index rose 6.6% between 2023Q1 and 2024Q1. Prices were up 1.1% compared to 2023Q4.
Keitele Group Announces Major Investment at Its Sawmill in Keitele, Finland
Keitele Group is investing more than EUR 40 million to increase annual sawn timber capacity at its sawmill in Keitele, Finland.
Canadian Industrial Product and Raw Materials Price Indexes for April
Lumber and other wood products had the largest downward impact on the IPPI’s month-over-month movement in April, falling 1.3%.
BC Moves to Streamline and Standardize the Local Building Permit Process
BC announced a new digital Building Permit Hub to help streamline the permitting process and to get more homes built faster.
Dodge Construction Network Reports Construction Starts Rose 6% in April
Dodge Construction Network reports that total construction starts rose 6% in April to a seasonally adjusted annual rate of $1.13 trillion.
BC to Provide Economic Support for Expansion of Kalesnikoff’s Castlegar Mass Timber Facility
BC is contributing as much as $6.7 million (CAD) to help Kalesnikoff grow its operations by establishing a new prefabricated mass timber and CLT modular facility.
US Apartment Investment Continues to Drop in Q1
According to MSCI Real Capital Analytics, nearly 1,040 apartment properties changed hands at a value of $20.6 billion in Q1.
US National Interagency Fire Center Wildfire Update for Week Ending May 24th
As of Friday, 10 new large wildfires have burned 38,606 acres in 6 states. On Thursday, firefighters contained the Peg Leg and Wolf fires in Arizona.
J.D. Irving’s Dixfield, ME, Sawmill Adds Baled Shavings to Its Value-Added Offerings
J.D. Irving’s Dixfield, Maine, sawmill is enhancing its offerings by introducing baled wood shavings as part of their available value-added products.