Wood Markets News

Swinerton Mass Timber Brand Transitions to Timberlab

Swinerton Inc., the Portland Oregon based, 100% employee-owned company, has announced that it will be transitioning the Swinerton Mass Timber brand to Timberlab, while reinforcing the company’s general contracting roots and retaining the company’s vision of the mainstream adoption of mass timber construction.

Buyers Reluctance to Purchase Homes Reported in Fannie Mae’s May Home Purchasing Sentiment Index

According to the latest Fannie Mae Home Purchase Sentiment Index® (HPSI), only 35% of consumers believe now is a good time to buy a home. The HPSI increased by 1.0 points in May to a reading of 80.0. Four of the six HPSI’s components increased month-over-month, most notably the components related to personal finance, as consumers reported a much greater sense of job security and improved household income compared to the same time last year.

Construction Sector Employment Declines by 20,000 in May

A deeper dive into the U.S. Bureau of Labor Statistics (BLS) total nonfarm payroll employment report for May, with an emphasis on the construction sector, reveals that total nonfarm payroll increased by 559,000 and the unemployment rate declined by -0.3 point to 5.8% percent. However, employment in the overall construction sector declined by -20,000 in May, following a revised decrease of 5,000 jobs in April.

Town of Ashland, Maine to Invest in Environmentally Sustainable Wood Building Product Manufacturing

The town of Ashland Maine recently joined a new initiative that has as its goal to begin investing in a more environmentally sustainable wood building product. Original Mass Timber Maine is a three-year market development program with the goal of opening at least one facility to manufacture original mass timber, also known as structural round timber (SRT), within the next two years.