A closer look at the September 2021 Job Openings and Labor Turnover (JOLTS) report by state reveals that across the 48 states which reported construction sector jobs data — which includes both residential as well as non-residential construction — 30 states reported an increase in September compared to August, while 16 states lost construction sector jobs.
Wood Markets News
Desire for Home Ownership Moderated Slightly in Q3 2021 but still Remains Strong
At the onset of the COVID-19 pandemic in Q1 of 2020, the share of adults planning a home purchase hit a low of 10%. However, over the next five consecutive quarters that number increased and peaked at 17% in Q2 of 2021. Home purchasing desire cooled in Q3 of 2021, with share falling to 16%.
Mercer International Inc. Plans New Sawmill Investment Project in Arneburg, Germany
Mercer International Inc. has announced that it is once again pursuing a new sawmill investment project for the Saxony-Anhalt, Germany region. The original plans were brought to a standstill due to the COVID-19 pandemic. In fact, during the summer Mercer submitted the building application to the responsible planning office of the Stendal district.
USDA Announces $13 Million in New Funding for Grant Programs to Support Market Innovation in Wood Products and Wood Energy
During the “Leaders for the Built Environment” virtual event and kick off of National Forest Products Week on Tuesday (10-19-21), U.S. Deputy of Agriculture Secretary Jewel Bronaugh announced approximately $13 million in new funding opportunities to support market innovation in wood products and wood energy.
Timber Supply in U.K. Finally Catching Up with Demand
According to the U.K.’s Timber Trades Federation’s (TTF) Nick Boulton, TTF’s head of technical and trade, “After a year of record production and nine months of near record structural softwood imports it is highly likely the UK is at a point where there is sufficient volume of wood at UK ports and in the UK timber supply chain to satisfy construction demand.”
Homes are Selling Faster Pace This Fall Compared to End of Summer
Redfin, the Seattle-based technology powered real estate brokerage firm, released today (10-22-21) their new analysis of home sales data. Redfin is comparing today’s market with the pre-pandemic fall market of 2019 to highlight how hot the market remains, even as most measures are settling into typical seasonal patterns.
Home Builders Report Availability of Developed Lots as Low to Very Low
The NAHB/Wells Fargo Housing Market Index (HMI) had a special question included in their September 2021 survey. The question asked builders about the availability of developed lots in their areas. The response indicates that home builders are facing supply side challenges similar to other U.S. industries — the shortage of labor and materials.
British Columbia’s Forest Minister Introduces Bill to “Reshape” Provincial Forest Management
On Wednesday (10-20-21), Katrine Conroy, British Columbia’s Forests, Lands, Natural Resource Operations and Rural Development Minster, introduced a bill to amend the Forest and Range Practices Act, saying it would “reshape” forest management in the province. Conroy told the legislature that the proposed changes align forestry legislation with the Declaration on the Rights of Indigenous Peoples Act passed in late 2019 and introduce “new tools to establish resilient forests.”
The U.K. Government to Promote the Use of Timber in Low-Rise Construction
The United Kingdom’s government yesterday (10-20-21) released its 368-page “Net Zero Strategy Report.” In the report, the government acknowledges that “felled trees store carbon within them and timber has the lowest carbon of any mainstream building material.” The report goes on to say the UK government would “promote the safe use of timber construction” through several measures.
Existing Home Sales Jump 7.0% in September
The National Association of Realtors® (NAR) reported today (10-21-21) that total existing home sales — which are completed transactions for single-family homes, townhomes, condominiums, and co-ops — increased 7.0% from August to a seasonally adjusted rate at 6.29 million homes in September. Year-over-year, however, sales are down -2.3% (6.44 million September 2020).