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.
Wood Markets News
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.
US National Interagency Fire Center Wildfire Update for September 26, 2022
The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US decreased from 95 to 89, with more than 898,732 acres across 7 different states currently burning.
Canfor Announces Taylor Pulp Mill to Be Winterized; Considering a Potential Restart in Spring 2023
Canfor Corp. said it does not expect to consider restarting its Taylor Pulp Mill until next spring. The initial Taylor Pulp Mill curtailment was announced in February 2022, and that was followed by a six-week extension in March.
Norra Skog to Invest SEK 300 Million in Its Kåge, Sweden, Sawmill
Norra Skog’s board of directors announced on Tuesday it was investing SEK 300 million ($27.3 million USD) in its sawmill located in Kåge, Sweden, north of Skellefteå.
Bidding-War Rate Slows in August, Hitting its Lowest Level Since the Pandemic Began
Redfin reported on Thursday that 44.6% of home offers written by Redfin agents nationwide faced competition in August. This is the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly came to a halt.
New York’s First Mass Timber Condominium, the Timber House, Built in Brooklyn’s Park Slope Neighborhood
In Brooklyn’s Park Slope neighborhood, the Timber House is the first mass timber condo building in New York. It includes six stories of post-and-beam construction with exposed glulam columns and beams and CLT floor plates.