On Friday (6-24-22), The Nak’azdli Whut’en First Nation signed forest management agreements with two major lumber producers who harvest timber […]
Wood Markets News
Canfor Announces Investment to Upgrade Sawmill in Estill, South Carolina
According to a press release issued on Thursday (6-23-22) by South Carolina Governor Henry McMaster and the South Carolina Department […]
Fire Destroys Kennebec Lumber Company Hardwood Sawmill in Greenfield, New Hampshire
On Saturday (6-25-22) afternoon a fire was reported at the Kennebec Lumber Company sawmill building in Greenfield, New Hampshire. The […]
Pending Homes Sales Post First Month-Over-Month Gain in Six-months in May
The National Association of Realtors® (NAR) reported on Monday (6-27-22). their Pending Homes Sales Index (PHSI), which is based on […]
U.S. National Interagency Fire Center Wildfire Update for June 27th, 2022 – Wildfire Numbers Continue to Increase at an Alarming Rate
The U.S. National Interagency Fire Center (NIFC) reported on Monday (6-27-22,) that one large new fire was reported yesterday (Sunday […]
New Residential Home Sales Rebound in May 2022
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Friday that new residential single-family home sales for May 2022 were at a seasonally adjusted annual rated (SAAR) of 696,000, according to estimates. This is 10.7% above the revised April rate of 629,000 but is -5.9% below May 2021.
Homebuying Demand Continues to Cool as Mortgage Rates and Home Prices Climb Higher
In its latest report, Redfin, reported that for the week ending June 19, homebuying demand pulled back further as mortgage rates reached their highest level in since 2009. Redfin’s Homebuyers Demand Index—which measures buyers request for home tours, offers, and other requests for agents’ help—posted its largest decline in over 2 years.
Mortgage Payments Rise Modestly Month-Over-Month in May 2022
The Mortgage Bankers Association (MBA) reported on Thursday that, according to its Purchase Applications Payment Index, which measures how new monthly mortgage payments vary across time (relative to income) using data from MBA’s Weekly Applications Survey, homebuyer affordability was mostly unchanged in May.
University of Michigan Final Consumer Sentiment Index Declines for June 2022
The University of Michigan today released its preliminary Consumer Sentiment Index for June. The Index of Consumer Sentiment dropped to a reading of 50.0, down from May’s reading of 58.4. This is a month-over-month decrease of -14.4% and down -41.5% year-over-year (85.5 in June 2021).
New Talks With Canada on Lumber Tariffs Depend on Canada Addressing Trade Concerns, US Trade Representative Tells Senate Subcommittee
Appearing on Wednesday before a meeting of the U.S. Senate Appropriations subcommittee, US Trade Representative Katherine Tai said that the US is open to fresh negotiations with Canada to resolve a longstanding dispute over US tariffs on softwood lumber.