Wood Markets News


Homes Continue to Sell in Record Time and at a Record Price, But Are We Near the Peak?

Redfin, the Seattle-based, technology powered real estate brokerage is reporting that for the 4-week period ending on April 4, 2021, the median home-sale price has increased year-over-year (y-o-y) 17% to $338,225, setting yet another new all-time record high. The asking prices of newly listed homes rose 16% y-o-y, to $ 351,851, an all-time high, but were flat from the four-week period ending March 28, 2021.

Small Business Optimism Index Increases in March

The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., is reporting that their NFIB Small Business Optimism Index rose 2.4 points in March to a reading of 98.2. March’s reading is the first return to the historical reading since last November.

Rayonier Advance Materials Announces the Sale of its Lumber and Newsprint Facilities to GreenFirst Forest Products

Rayonier Advance Materials (RYAM), a global leader in high purity cellulose pulp, and GreenFirst Forest Products Inc. (GreenFirst), a Canadian lumber company, announced today that the parties have entered into a binding asset purchase agreement in which RYAM has agreed to sell all of its six lumber and one newsprint facilities and related assets located in Ontario and Quebec to GreenFirst for an expected purchase price of approximately $214 million (USD), including inventory on hand at the time of closing, which will be payable in approximately 85% cash, 15% common shares of capital GreenFirst.

Available Homes For Sale Inventory Drops to New Record Low Levels in March

According to HouseCanary’s latest Market Pulse Report (MPR), homes for sale listings volume are down -11.5% year-over-year. In the month of March 2021, 284,298 net new listings were placed on the market, a -0.9% decrease over March 2020. In addition, there were 348,422 listings that went under contract nationwide, which is a 22.7% increase versus March 2020.

Construction Input Prices Climb Higher in March

Further analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data, provided by the Associated Builders and Contractors (ABC), reveals that construction and nonresidential construction input prices rose 3.5% in March 2021. Construction input prices are 12.9% higher than in March 2020, and nonresidential construction input prices are up 12.4% during that same span.