According to the latest Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability increased in December. The MCAI rose 0.8% in December to a reading of 125.9. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Wood Markets News
NFIB’s Small Business Optimism Index Increases Slightly in December
The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (1-11-22) that their NFIB Small Business Optimism Index increased slightly in December to a reading of 98.9, up 0.5 points from the November reading of 98.4. Seven of the 10 Index components improved and three declined. Twenty-two percent of owners reported that inflation was their single most important problem.
U.S. Sawmill Output Continues to Trail New Home Construction
The National Association of Home Builders (NAHB) has provided a deeper look into the relationship between U.S. domestic sawmills’ inability to increase output to meet growing demand since mid-2020 and the resulting lack of new home availability. The NAHB cites the lack of increased domestic sawmill activity as one of the primary factors that has contributed to record high lumber and panel prices and continuing price volatility in both the lumber and housing markets.
Colorado Firm Bringing CLT Usage to Smaller, Rural Settings
As the climate in Colorado continues to dry and warm, wildfire mitigation efforts such as forest thinning are becoming ever more important. However, much of the thinned wood often ends up in a landfill or is wasted. Timber Age Systems, Colorado-based company is working to change that. TAS is working with smaller trees, beetle-killed material, and other wood products that don’t always meet commercial needs and turning them into CLT on a smaller size scale.
Homebuyers Will Continue to Face Record Supply Shortages in 2022
Redfin, the Seattle-based technology-powered real estate brokerage, in their latest housing market report reveals that the housing market started off the new year with fewer homes for sale than ever before, as active listings fell -27% year-over-year. The report also notes that the median home-sale price increased 14% year-over-year to $358,460, just shy of an all-time high. The median asking price of newly listed homes increased 12% year-over-year to $341,200.
Rental Costs Outpace Those of Home Ownership in 2021
ATTOM Data Solutions, the Irvine, California-based provider of nationwide property data, released on Friday (1-7-22) their Rental Affordability Report (RAR) for 2021. The RAR shows that owning a median-priced home is more affordable than the average rent on a three-bedroom property. Some 58% of the 1,154 U.S. counties analyzed for the report reveal that major home ownership expenses consume a smaller portion of average local wages than renting.
Longleaf Pine Initiative Helping to Restore Longleaf Pine Forests in Southeast U.S.
Longleaf pine forests once covered more than 90 million acres across the Southeast U.S. Over the past couple of centuries development, timbering and fire suppression has greatly reduced the ecosystem’s range. The longleaf pine forest represents some of the world’s most biologically diverse ecosystems and are home to nearly 600 plant and animal species.
U.S. Exports of Wood Pellets Up Month-Over-Month and Year-Over-Year in November
According to data released on Thursday (1-6-22) by the United States Department of Agriculture (USDA) Foreign Agricultural Service (FAS), the U.S. exported 764,259.6 metric tons of wood pellets in November, up from both 422,109.4 metric tons in October and 660,312.5 metric tons in November 2020.
Schilliger Holz AG Announces Investment in an Automated CLT Production Line in Vogelsheim, France
According to Schilliger, the new CLT production line will be installed in an existing part of the plant. Schilliger estimates the annual capacity in a two-shift operation will be approximately 50,000 m3 CLT. The plant is scheduled to begin operation in January 2024.
Fannie Mae’s Home Purchasing Sentiment Index® for December Reflects Conflicting Consumer Views on Homebuying and Home-Selling Conditions
Fannie Mae today (1-7-22) released their Home Purchasing Sentiment Index® (HPSI) for December. According to the report, the HPSI declined 0.5 points to a reading of 74.2 in December. This occurred as consumers continue to report conflicting views of homebuying and home-selling conditions.