The scars of last summer’s Dixie Fire can be clearly seen for miles in burnt California hillside and forestland. However, there is hope. The burnt timber has value and the newly created sawmill in Crescent Mills, California, is working as quickly as possible to convert those burnt timbers into viable lumber products that can be used to rebuild the area.
Wood Markets News
Single-Family Residential Construction Slowed in the Suburbs in Q1 of 2022
According to the National Association of Home Builders’ Home Building Geography Index for Q1 of 2022, single-family residential home building slowed in the suburbs, with most other regional areas following suit. This decrease follows the aftermath of the pandemic and home buyers’ preferences to live in the suburbs easing.
Fannie Mae’s Home Purchase Sentiment Index® Lower Month-Over-Month & Year-Over-Year in May 2022
Fannie Mae today (6-7-22) released its Home Purchase Sentiment Index® (HPSI) for May. The HPSI declined in May by -0.3 points to a reading of 68.2. The index is now closer to its 10-year and pandemic-low of 63.0, recorded in April of 2020. Year-over-year (May 2021 – May 2022) the HPSI is down 11.8 points.
PotlatchDeltic Corporation Announces $131 Million Investment in Waldo, Arkansas, Sawmill
PotlatchDeltic Corporation announced today that is investing $131 million to expand and modernize its Waldo, Columbia County, Arkansas sawmill. With the updates scheduled to be completed in Q4 of 2024, the mills annual capacity will increase from 190 million board feet of dimensional lumber to approximately 275 million board feet.
Financial Incentives Offered to Encourage Southern Forestland Owners to Complete First Tree Thinning
University of Arkansas Forester Joe Friend said in a recent news release that forestland owners can get paid to complete their first tree thinning. The program is part of a U.S. Department of Agriculture Forest Service initiative to help prevent the spread of the southern pine beetles—the most damaging insect pest in the eastern U.S.
Buyers Regained Some Control Over the Housing Market in the Month of May
Redfin is reporting that the month of May marked a turning point in the pandemic housing craze, as buyers regained some control over the housing market. However, the increased sense of buyer control came with a great cost, as 5%+ mortgage rates and record-high prices have eliminated many buyers from the market.
U.S. National Interagency Fire Center Wildfire Update for June 6, 2022
On Monday, the U.S. National Interagency Fire Center reported that the 2022 wildfire season continues to gain momentum and is currently at a at a pace that is well in excess of both 2021 and its 10-year average. Currently, more than 4,100 wildland firefighters and support personnel are assigned to incidents across the country.
Median Mortgage Payments Jump 8.8% Month-Over-Month in April 2022
The latest data from the Mortgage Bankers Association’s Purchase Applications Payment Index (PAPI) reveals that the median monthly payment for a new mortgage in April rose 8.8% to $1,889, up from March when it was $1,736. The national PAPI increased 7.8% to a reading of 162.7 in April, up from March’s reading of 150.9.
Maine’s Plan For Wood-Fired Power Plants Draws Both Praise and Doubts
In April, Maine Gov. Janet Mills signed into law legislation that establishes a program to commission projects that will burn wood to create electricity and also capture the heat produced for use on-site—heat that would go to waste in a conventional power plant. Some climate activists are cynical, saying questions remain as to whether the program will cut carbon emissions as intended.
binderholz Group GmbH Solid Wood Plant II Preparing to Start Production in Late 2022
binderholz Group GmbH, a leading European company offering solid wood products and innovative building solutions, announced in August 2021 that it had commenced construction on binderholz solid wood panel plant II, which is set to be located in St. Georgen bei Salzburg, Austria.