The median US asking rent fell 1% year-over-year to $1,625 in April, the largest decline since February 2024, Redfin reported.
Wood Markets News
US Consumer Credit Slows in Q1
Total outstanding consumer credit reached $5.01 trillion in Q1, an increase of 1.53% (SAAR) compared to the previous quarter, the Federal Reserve and NAHB reported.
CSX and Locomotive Engineers Reach Tentative Five-Year Agreement
CSX reached a tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen on a new five-year single-system agreement.
Bloomington Development Turns to Mass Timber for Two Industrial Buildings in Ontario
Bloomington Development is building two mass timber industrial buildings in Sudbury, Ontario, according to Daily Commerical News.
US National Interagency Fire Center Wildfire Update as of May 9
As of Friday, there were eight large new wildfires and a total of 31,288 acres burning.
Tolko Plans Downtime at Two Divisions in North Okanagan, BC
Citing a lack of economical fiber, Tolko said it is planning downtime at a pair of North Okanagan, BC, operations, the Haida Gwaii Observer reported.
US Mortgage Credit Availability Steady in April After March Spike
The MBA Mortgage Credit Availability Index held steady at 102.9 in April.
Stora Enso Plans New Sawmill in Imatra, Finland
The project has reportedly been planned for a long time, but Stora Enso has not commented on the matter publicly, Metsälehti reported.
Sweden’s Derome Inaugurates New Sawmill Line
The SEK 600 million (US$61.8 million) investment is part of an extensive modernization and expansion project that has been underway since 2022.
UPM Plywood and Industrial Union Announce Agreement for Mills in Finland
UPM Plywood and the Industrial Union have signed a new collective agreement. The strikes at the mills are ending and work will start immediately.