There were no reported injuries at an extra alarm fire at the Georgia Pacific Medium Density Fiberboard plant in Mount Jewett, Pennsylvania early on Monday morning (5-17-21).
Wood Markets News
Weyerhaeuser Announces $157 Million Investment to Upgrade Holden, Louisiana Facility
Louisiana Gov. John Bel Edwards and Weyerhaeuser Corporation have jointly announced that the company plans to make a two-phased $157 million capital investment in its Holden, Louisiana facility. Weyerhaeuser plans to upgrade and modernize the sawmill to produce longer-length lumber, add a new planer mill, and upgrade and add two new continuous dry kilns for increased drying capacity.
Demand for Lumber Continues to Rise but Not the Number of New Sawmill Facilities
The sawmill business is and has always been cyclical. Today North America’s sawmills cannot keep up with demand, resulting in wood prices that are at historical levels and are continuing to climb higher. However, sawmill owners and their executive teams are overall not in a rush to build new facilities.
Canadian Housing Starts Decline Month-Over-Month in April
According to the Canada Mortgage and Housing Corporation (CMHC), the trend in housing starts was 279,055 units in April 2021, up month-over-month from 272,164 units in March.
April Sales Falter After a Record-Breaking March in Canadian National Home Sales
According to the Canadian Real Estate Association (CREA), national home sales in Canada declined 12.5% on a month-over-month basis in April. However, March was a record setting month.
Builder Confidence in Newly Built Single-Family Homes Holds Steady in May
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) reports that builder confidence in the market for newly built single-family home was unchanged in May from April’s reading of 83. Builder confidence topped at a level of 90 in November 2020.
USDA and Dept. of the Interior Expect 2021 to be the Most Intense Wildfire Year in Recent History
The U.S. Department of Agriculture (USDA) and the U.S. Department of the Interior are gearing up for what they expect to be one of the most intense wildfire years in recent history. In a press call on Thursday (5-13-21), Secretary of the Interior Deb Haaland said, “May is wildfire awareness month, but these days, it seems as if the fire season is the entire year.”
Oregon Senators Announce $1.6 Million in Federal Funds to Support Mass Wood Production
U.S. Senators Jeff Merkley and Ron Wyden (both from Oregon) have announced that over $1.6 million in federal funds that will support mass wood products production and affordable housing construction are on their way to Oregon through a program Merkley spearheaded back in 2018.
New Home Listings Increase but Housing Shortage Continues
According to HouseCanary, the San Francisco based, valuation-focused real estate brokerage which provides software and service to the real estate marketplace, latest data indicates that the housing shortage could linger for a while. However, there might be hope on the horizon.
Construction Input Prices Increased 19.2% Year-Over-Year, 1.3% For April
Analysis of the U.S. Bureau of Labor Statistics (BLS) of April’s Producer Price Index data provided by Associated Builders and Contractors (ABC) reveal that construction input prices increased 1.3% in April 2021, when compared those of March 2021. Nonresidential construction input prices increased 1.6% in April.