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.
Redfin, the Seattle-based technology-powered real estate brokerage, is reporting that in the 4-weeks ending May 30, 2021, both pending sales asking prices began to decline or flatten. Redfin noted that some of the key takeaways for the time period could be potential signs that the housing market might be cooling down.
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.
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.
On Wednesday, June 3, 2021, San Group announced that over the next year it plans to invest $100 million (CAD) into its Port Alberni forestry operations. There are four projects that will receive money from the investment. The largest portion of the investment of $50-60 million is part of an agreement to ship lumber via container ships from the city’s deep seaport.
According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (except pulp and paper) in April 2021 amounted to US$376.4 million — an increase of 57.5% when compared to April 2020, when they were valued at US$238.9 million.
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.
The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment increased by 559,000 in May, following a disappointing increase of 278,999 in April and a surge in March of 785,000. In May, nonfarm payroll employment is down by 7.6 million, or -5.0% from its pre-pandemic level in February 2020.
Statistics Canada (StatsCan) is reporting that Canadian employment fell by 68,000 (-0.4%) in May, adding to a decline of 207,000 in April. The unemployment rate was little changed at 8.2%.
When Canfor Corp. closed its Vavenby sawmill in 2019, due to the shrinking timber supply, and sold the cutting rights to Interfor for $ 60 million, B.C.’s NDP government had its first chance to use its new authority to intervene in long-term corporate forest tenures…