Fannie Mae today (2-7-22) released their Home Purchase Sentiment Index® (HPSI) for January 2022. The HPSI distills information about consumers’ home purchasing sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI for January decreased -2.4 points to 71.8 in January, its lowest level since May 2020, as affordability constraints continue to weigh on the housing market.
Wood Markets News
Prices Climb Higher as Listings for Existing Homes Continue to Decline
HouseCanary, Inc., the San Francisco-based technology and data-forward national real estate brokerage firm, has released its latest Market Pulse Report (MPR) covering 22 listing-targeted measures and comparing data between January 2021 and January 2022. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.
Swedish Sawmills Set New Production Records in 2021
According to a press release from Swedish Wood, a publication that represents the Swedish sawmill industry and is part of the Swedish Forest Industries Federation, 2021 was a record year for Swedish sawmill production. The expectations for 2021 of 18.8 million cubic meters were exceeded, and the year ended at just over 19 million cubic meters of production.
Multifamily Housing Sector Experiences Record-Breaking Growth in 2021
According to a new report from CBRE Group Inc., 2021 was a record-breaking year for the multifamily housing industry. In Q4 2021, total investment volume was $148.9 billion, a 73% quarter-over-quarter increase. This growth brings 2021’s total investment to $335.3 billion, which is nearly double the previous record of $193.1 billion set in 2019.
Canadian Unemployment Rate Rises in January
Statistics Canada (StatsCan) reported today (2-4-22) that Canadian employment fell by 200,000 (-1.0%) in January, and the unemployment rate increased 0.5 percentage points to 6.5%. The total number of unemployed people increased by 106,000 (+8.6%) to 1.34 million. This marks the first increase in the unemployment rate in nine months.
Construction Sector Employment Declined in January 2022
A closer look at the Bureau of Labor Statistics (BLS) Nonfarm Payroll Report, with a specific emphasis on the construction industry and analysis provided by the National Association of Home Builders (NAHB), reveals that employment in the construction sector overall declined by 5,000 in January — ending six consecutive months of increases.
U.S. Nonfarm Payroll Increases by 467,000 in January; Unemployment Inches Higher to 4.0%
The U.S. Bureau of Labor Statistics (BLS) reported today (2-4-22) that total nonfarm payroll employment increased by 467,000 in January. Nonfarm payroll employment has increased by 19.1 million since April 2020 but is down by -2.9 million, or -1.9%, from its pre-pandemic level in February 2020.
Nuveen Natural Capital Completes Sale of 66,800 Acres in Texas and Georgia to Rayonier
Nuveen Natural Capital, a global investment and asset management company specializing in the acquisition and stewardship of forestry assets, announced today (2-3-22) that it had completed the sale of 66,800 acres in Texas and Georgia to Rayonier, a leading timberland real estate investment trust. The purchase price was $ 124.2 million, prior to transactional costs.
Mayr-Melnhof Holz Completes Acquisition of Sweden’s Bergkvist Siljan Sawmill Group
Mayr-Melnhof Holz, one of Europe’s leading sawmilling and engineered wood products companies, announced that it has received the final approval from the competition authorities and, as a result, has completed its acquisition of the Swedish sawmill group Bergkvist Siljanh. Bergkvist Siljan produces around 850,000 m3 of spruce and pine sawn timber annually.
Australia’s Clean Energy Finance Corporation Promotes Use of Timber in Large-Scale Construction with Debt Financing
Wanting to promote a mass transformation in timber construction across the property sector in Australia, the Australian government’s Clean Energy Finance Corporation (CEFC) is providing $300 million (AUD) in debt finance for eligible projects nationwide. The new CEFC program seeks to transform large-scale building construction in Australia, with the potential to cut construction-related emissions.