Wood Markets News

Canadian Real GDP Increased 0.7% in March 2022

StatsCan reported today that real gross domestic product (GDP) rose 0.7% in March, following a 0.9% expansion in February. Broad-based increases across most sectors were led by client-facing industries. Both services-producing (+0.6%) and goods-producing (+0.9%) industries were up, as 14 of 20 industrial sectors expanded in March.

U.S. Home Prices Post 20.6% Year-Over-Year Gain in March 2022

On Tuesday, S&P CoreLogic Case-Shiller released its U.S. National Home Price NSA Index for March. The Index, which covers all nine U.S. Census divisions, reported that home prices experienced a 20.6% annual gain in March. The increase follows a 20.9% annual gain in February and a 19.1% annual gain in January.

U.S. National Interagency Fire Center Wildfire Update for May 31, 2022

On Tuesday (5-31-22), the U.S. National Interagency Fire Center (NIFC) reported that the 2022 wildfire season remains well ahead of both 2021 and its 10-year average. Currently, more than 5,300 wildland firefighters and support personnel are assigned to incidents across the country. Year to date through March 31, 27,409 wildfires had been reported, and they had burned 1,889,439 acres.

Federal Judge Issues Permanent Injunction Against Plywood Imported From Brazil With PFS-TECO Grade Stamp

On Tuesday, a lawsuit to stop the importation and sale of substandard structural plywood from Brazil ended with Federal Judge Roy Altman issuing a permanent injunction barring a long-time certifier from operations in Brazil. The injunction requires the revocation of all PS 1 certificates issued by PFS-TECO to over a dozen Brazilian mills producing structural plywood for the U.S.

US Single-Family Homes Continue to Have a Smaller Footprint

The U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design for Q1 of 2022 reveals that the median single-family square foot floor plan is now down to 2,310 sq. ft., while the average (mean) square footage for a new single-family home decreased to 2,512 sq. ft.