Wood Markets News

Custom Home Building Continued to Grow in Q1 of 2022

According to the latest data from the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design survey, custom home building posted a year-over-year gain for Q1 of 2022. The survey reports that there were 46,000 total custom building starts in Q1 of 2022. This is a year-over-year increase of 28% (Q1 of 2021).

Mercer Mass Timber Announces Investment in its Spokane Valley Manufacturing Facility

Mercer Mass Timber LLC., a subsidiary of the Vancouver, British Columbia-based Mercer International Inc., a global producer of market pulp and solid wood products with mills in Canada, Germany, and Australia, announced on Wednesday that it plans to invest $50 million (USD) over the next two years in capital projects at its Spokane Valley mass timber manufacturing facility.

Existing Home Sales in April Decline Month-Over-Month and Year-Over-Year

The National Association of Realtors® (NAR) reported on Thursday that total existing home sales dropped -2.4% in April from March to a seasonally adjusted rate at 5.61 million homes. This marks the third consecutive month of existing home sales declines. Year-over-year, however, sales are down -5.9% (5.96 million in April 2021).