The U.S. Department of Commerce released its preliminary determination for the Second Administrative Review in antidumping duty (AD) and countervailing duty (CVD) investigation.
Wood Markets News
April Median Home Price Sets New Record High; Home Availability Sets New Record Low
According to Redfin, the Seattle-based technology powered real estate brokerage, the national median home-sale price hit a record high in April of $370,528 — up 22% year-over-year. April 2021 set other new records as well.
Custom Home Building Starts Reported Flat in Q1 2021
The most recent U.S. Census data of Starts and Completions by Purpose and Design, with analysis provided by the National Association of Home Builders (NAHB), reveals that the market for custom home building continues to experience flat conditions amidst strong demand and rising material challenges. In Q1 of 2021, there were 36,000 total custom building starts.
Mortgage Rates Climb to 3% in the Week Ending May 20, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending May 20, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.00% with an average 0.6 point, up from last week when it averaged 2.94%. A year ago, at this time, the 30-year FRM averaged 3.24%.
Soaring Home Prices Are Keeping Many Would-Be Home Buyers as Renters
A recent CoreLogic survey indicated that 70% of consumers are citing high home inflation and surging home prices as a reason to rent. However, increased demand for rental properties is causing a problem of its own. The rental markets are growing more and more crowded and increasing demand for rentals risks creating a new affordability problem.
Weekly Jobless Claims Decline Further in the Week Ending May 15, 2021
The U.S. Department of Labor is reporting that an additional 444,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday May 15, 2021 — a decrease of 34,000 from the previous week’s revised level. This is the lowest level for this average of initial claims since March 14, 2020, when it was 256,000.
The Conference Board’s Leading Economic Index® Increases in April
The Conference Board, which was founded in 1916 as a non-partisan, not-for-profit think tank, released today (5-20-21) their April 2021 Leading Economic Index® (LEI) for the U.S. According to the release, the LEI which is based on ten separate components increased 1.6% in April, following a 1.3% increase in March and a -0.1% decline in February.
Diversity in Tree Species Provides No Protection Against Bark Beetle Infestation
Freiburg scientist Sylvie Berthelot and her team of researchers from the Faculty of Environment and Natural Resources and the Faculty of Biology are studying the importance of tree diversity on bark beetle infestation. They are investigating whether the composition of tree species affects bark beetle feeding behavior.
BC’s Seaton Forest Products Finds Niche Market for Dry Grade 4 Wood
Seaton Forest Products, located near Smithers, B.C. at the foot of Seaton Mountain, has been quietly building a niche market for itself. Owned by Andy Thompson, the mill cuts dry Grade 4 wood into cants, using wood that would have typically been left in the bush or burned.
Townhouse Construction Growth Continued in Q1 of 2021
The most recent Census data of Starts and Completions by Purpose and Design, with analysis provided by the National Association of Home Builders (NAHB), reveals that townhouse construction continued at a robust pace in Q1 of 2021. This follows the best quarter of townhouse construction in 2.5 years at the end of 2020.