On Tuesday (1-4-22) the U.S. Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for November 2021. According to the JOLTS report, as of the last day in November, the number of job openings decreased to 10.6 million (-529,000 or -6.6%). The number of hires was increased to 6.7 million in November, up from October’s 6.5 million. The hire rate was 4.5% up from 4.4% in October.
Wood Markets News
Increased Russian Lumber Export Duties Are Now in Effect
Russia enacts higher export duties on minimally processed lumber.
Housing Affordability in October Sinks to its Lowest Level Since 2008
House prices outpace increases in median household income.
Median Home Price Ends 2021 at New Record High – While Number of Homes For Sale Hit New Record Lows
Redfin reports median home sales prices reached record highs at the end of 2021.
Total Construction Spending in November 2021 Up Month and Year-Over-Year
U.S. construction spending slightly higher in November.
30-Year & 15-Year Mortgage Rates Edge Higher – in Week Ending December 30th 2021
Mortgage rates edge higher at the end of December.
Weekly Jobless Claims Decline– in the Week Ending 25th December 2021
The U.S. Department of Labor reports declining initial filings for unemployment benefits.
Home Buyers and Sellers Changing Plans due to Inflation and High Energy Costs
A survey indicates inflation and energy costs are impacting expected home buyers and sellers.
Pending Homes Sales Decline in November 2021
The National Association of Realtors report pending home sales dropped 2.2% in November.
China Updates Phytosanitary Requirements for Pine Log and Lumber Imports
China Customs released new phytosanitary rules on importing pine logs and lumber from 7 countries due to pine nematode concerns. The new rules include an updated list of designated Chinese ports pine logs and lumber can be imported starting February 1st, 2022.