New-home prices in China fell 0.4% in September, the sharpest monthly decline in 11 months, deepening the property sector’s drag on economic growth, Reuters reported.
Wood Markets News
US Homebuyers See Largest Fall Discounts Since 2019
Redfin reported that only 25.3% of US homes sold above list in September, the lowest in six years.
US Rent Growth Slows as Landlord Concessions Rise
Zillow reported that US rent growth slowed to 1.7% year-over-year in September as new supply and record concessions improved affordability.
Canadian Consumer Price Index Rises 2.4% Year-Over-Year in September
Canada’s CPI rose 2.4% year-over-year in September, up from 1.9% in August, as higher food and rent prices offset declines in travel tour costs.
Tempe, AZ, Sawmill Repurposes Downed Trees After Microburst
After Tempe’s microburst felled hundreds of trees, Wine Glass Bar Sawmill is reclaiming 40 tons of acacia and mesquite logs for custom furniture, Fox 10 reported.
Canadian Industrial Product and Raw Materials Price Indices for September
The IPPI rose 0.8% in September and 5.5% year-over-year. Softwood lumber fell 10.7%, the largest decrease since June 2022.
Ontario Invests CA$17 Million to Support Kapuskasing Paper Mill
Ontario will invest CA$16.8 million to support Kapuskasing Paper Mill operations, and Ottawa will provide $12 million in new support.
Ingka Investments to Acquire 153,000 Hectares in Latvia and Estonia From Södra
Ingka Investments has agreed to buy 153,000 hectares in Latvia and Estonia from Södra, 89% of which is forestland.
Softwood Lumber Board and US Forest Service Mark Decade of Partnership
The Softwood Lumber Board and USDA Forest Service mark over a decade of partnership that has driven $100 million in wood-building initiatives and expanded lumber markets.
Investment in Canadian Building Construction Edges Higher in August
Investment in Canadian building construction edged up 0.1% to CA$22.8 billion in August, as single-family housing and nonresidential gains offset weaker multi-unit activity.