On Monday (9-26-22), Tolko provided an update on its High Prairie, Alberta, OSB facility that was seriously damaged on May 20, 2022, due to a press fire at the mill. Tolko is describing much of the equipment within the building was a complete and total loss.
Wood Markets News
US Sales of New Residential Single-Family Homes Up 28.8% Month-Over-Month in August
On Tuesday, the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for August were at a SAAR of 685,000, according to estimates. This is 28.3% above the revised July 2022 rate.
FHFA Reports US House Prices Declined Month-Over-Month but Remained Higher Year-Over-Year in July
According to the latest Federal Housing Finance Agency House Price Index (HPI®), nationwide US home prices declined 0.6% from June. However, from July 2021 to July 2022, house prices rose 13.9%.
Finland Targets Wood as a Major Building Component as It Moves Towards Carbon Neutrality
In Finland, wood is a readily available building material. As a result, there is a growing trend to use wood in buildings throughout the country. It is also in step with efforts to achieve carbon neutrality by 2035.
Gains in US Home Prices Slowed Further in July, S&P Corelogic Case-Shiller Index Shows
On Tuesday, the S&P CoreLogic Case-Shiller US National Home Price Index (NSA) was released for July. The Index shows that home prices experienced a 15.8% annual gain in July, down from 18.1% reported in June. This is the fourth consecutive monthly decline.
The Conference Board’s Consumer Confidence Index Increases for the Second Consecutive Month in September
The Conference Board released today its Consumer Confidence Index® (CCI) for September 2022. The CCI has increased for the second consecutive month. The Index now stands at 108.0 (1985=100), up from its August reading of 103.6.
15.2% of all Home Purchase Agreements Fell Through in August
Redfin reported today that approximately 64,000 home-purchase agreements fell through in August. That is equal to 15.2% of all homes that went under contract—up from 12.1% in August 2021—and is comparable with July’s revised rate of 15.5%.
Study Conducted by Forest Industry Experts Confirms BC Pellets are Responsibly Sourced
A study commissioned by the Wood Pellet Association of Canada has confirmed that wood pellets in British Columbia are sourced entirely from sawmill and harvest residuals or from low-quality logs and bush grind rejected by other industries.
New Mortgage Payments Declined for Third Straight Month in August
The Mortgage Bankers Association reported on Thursday that according to its Purchase Applications Payment Index, homebuyer affordability improved for the third consecutive month in August. The national median payment applied for by applicants was down to $1,839 from $1,844 in July.
Firewood Shortage in France: Cost of Logs Up 20%, and Pellet Costs Have Tripled
In France, firewood shortages are escalating and so have prices, which are up more than 20% since June. The increase is the result of increasing demand, as more people enter the market amid fears over the price of other fuel sources.