Interfor Corporation announced on Saturday, March 13, 2021 that it has completed the previously-announced transaction to acquire the WestRock Company’s sawmill located in Summerville, South Carolina.
Wood Markets News
Wolff Company and Katerra Partner to Design and Build a Two-Building 5-Story Project Using CLT
Developer The Wolff Co. has partnered with the technology-driven construction firm Katerra to design and build a two-building, five-story project, which is among the first developments in the country to use cross-laminated timber (CLT), or large-scale, prefabricated, solid engineered wood panels, for the floor and ceiling assemblies.
Louisiana’s Timber Losses from Last Year’s Hurricanes Amount to $1.5 billion
According to LSU AgCenter’s forestry experts, the Louisiana’s forestry industries losses from hurricanes last year — $1.5 billion — was double the amount of the revenue the industry generates yearly.
Canadian Housing Starts Decline in February, following January’s Strong Performance
The Canadian Mortgage and Housing Corporation (CMHC) is reporting that housing starts in Canada declined in February to 242,777 units, down from January’s 244,962 units. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Canadian Home Sales Set New All-Time Record in February
The Canadian Real Estate Association (CREA) is reporting that home sales recorded over the Canadian MLS® System rose 6.6% month-over-month (M-O-M), setting another all-time home sales record, in February 2021. Actual activity (not seasonally adjusted) was up year-over-year (Y-O-Y) 39.2%.
Median Home Sale Price at All-Time Record High in Week Ending March 7, 2021
Redfin, the Seattle-based technology powered real estate brokerage is reporting that the median home sale price increased 17% year-over-year (Y-O-Y) to $328,350 — an all-time high — for the week ending March 7, 2021. This is the largest increase on record in this data set, which goes back through 2016. New home sales listings were down -17% Y-O-Y.
EU27 +UK Imports of Plywood Drop for Second Year in a Row
Impacts of the COVID-19 pandemic and the United Kingdom (UK) leaving the European Union (EU) has resulted in the EU27 +UK in -7% decrease of plywood and other woods in 2020, this on the heals of a -14% decline in 2019.
Construction Begins on the Darrington Wood Innovation Center in Darrington Washington
Construction is officially set to begin on a 100-acre, $ 73 million timber innovation center in Washington state. First announced in July 2020, the Darrington Wood Innovation Center will house a mass-timber production facility and serve as a hub for innovative wood product manufacturing.
China’s Ban on Imported Logs from Australia Creating Hardship on Australian Timber Industry
Diplomatic ties between Australia and its largest trading partner deteriorated last year after Canberra called for an international inquiry into the source of the coronavirus, angering China. Any hopes of a quick reconciliation have been dashed as Canberra and Beijing have now ensnared bureaucrats, who would usually stay engaged during a temporary disagreement.
JOLTS Reports Construction Job Openings Rate Increases in January
An in depth look at the U.S. Bureau of Labor Statistics (BLS) Job Opening and Labor Turnover Survey (JOLTS) for January 2021, with analysis provided by the National Association of Home Builders (NAHB) reveals that job openings in construction increased in January to their highest level since the fall of 2019.