Wood Markets News


Year-Over-Year New Home Mortgage Applications Decline -15.2% in October

According to the Mortgage Banker Association (MBA) Builder Application Survey (BAS) for October 2021, year-over-year mortgage applications for new home purchases decreased -15.2%. Compared to September 2021, applications increased by 6%. Based on the data from the BAS, the MBA estimates that new single-family homes sales were running at a seasonally adjusted annual rate (SAAR) of 897,000 units in October 2021.

Canadian Homes Sales Reach Record Annual High in October 2021

The Canadian Real Estate Association (CREA) reported today (11-15-21) that Canadian homes sales have already set a new annual record in 2021. According to CREA, home sales recorded over Canadian MLS® Systems were up 8.6% between September and October 2021, marking the largest month-over-month increase since July 2020.

Segezha Group Announces Plans to Build Second Glued Laminated Timber Plant in Karelia, Russia

The Segezha Group has announced it plans to build a glued laminated timber plant in Segeza, Republic of Karelia, Russia. The new plant will be located next to the Group’s primary asset in the Republic of Karelia, Segezha Pulp and Paper Mill JSC. The new facility will join the Sokol Woodworking Plant JSC, which is currently the only Segezha Group facility manufacturing glued laminated timber.

Hancock Natural Resources Group Renamed Manulife Investment Management Timberland and Agriculture Inc.

Manulife Investment Management, a diverse private markets business, which includes timberland and agriculture, has announced that Hancock Natural Resource Group Inc has changed its name to Manulife Investment Management Timberland and Agriculture Inc effective today (11-15-21). The change completes the transition of all Manulife Investment Management private markets’ capabilities.

Minster of Forestry Urges Builders to “Think Timber” in the Construction of Ireland’s Homes

The Republic of Ireland’s Senator Pippa Hackett, the Minister of State with responsibility for Forestry, wants to see timber playing a ‘big part’ in the future of construction of Ireland’s homes. The senator made the comments as she launched a series of statements by the National Council for Forest Research and Development (COFORD).

Construction Jobs Analysis Released for September — Layoffs Decline Significantly While Openings Slip

A closer look at the Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS) data for September — with an emphasis on constructions and additional analysis provided by the National Association of Home Builders (NAHB) — reveals that the job openings rate in construction edged down to 4.3% in September, with 333,000 open positions in the sector.

Existing Home Prices in Metropolitan Areas Continued to Soar in Q3 2021

According to the Q3 2021 Metropolitan Median Area Price and Affordability report from the National Association of Realtors® (NAR), strong homebuyer demand and limited housing supply has led to median sales prices rising for existing single-family homes in all but one of 183 measured markets in Q3 of 2021. The NAR found that 78% of 183 markets experienced double-digit year-over-year price increases, fewer than in Q2 of 2021 (94%).