Housing Starts Increase In April
Housing starts across the U.S. increased in April 2.2% to 1.4 million according the U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction report released May 17. Notably, this is 22.3% lower than April 2022’s 1.8 million. Single-family home construction increased 1.6% to its highest level so far in 2023. Starts of apartment buildings and other multifamily projects also rose: The April rate for units in buildings with five units or more was 542,000.
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Weyerhaeuser Names Brian Chaney To Lead Wood Products
Weyerhaeuser Co. has appointed Brian Chaney as senior vice president of Wood Products. Chaney recently served as vice president of Engineered Wood Products and Innovation for the company, and will take over for Keith O’Rear, who retired June 3 and will serve as a strategic advisor to the company through the end of 2024.
BC Timber Supply Stymies Canfor
After thorough analysis of the persistent shortage of economically available timber and challenging operating conditions in northern British Columbia, Canfor Corp. announced the permanent closure of its Polar sawmill in Bear Lake, BC and the suspension of its planned reinvestment in Houston, BC. This follows the announcement by subsidiary company, Canfor Pulp, that one line of production will be indefinitely curtailed at the Northwood Pulp Mill.
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