Wood Markets News


Price per Square Foot of New Custom Single-Family Homes Increased 8% in 2020

According to the National Association of Home Builder’s analysis of the latest Survey of Construction (SOC) data, which comes from interviews of builders and owners of selected new houses, the median square foot price in a new custom single-family detached (SFD) homes started in 2020 increased 8%. Excluding ‘soaring’ improved lot values, the average SFD increased 4%.

Smith Leonard Residential Furniture Sales Increase 7% Year-Over-Year in June

Smith Leonard’s latest Monthly Furniture Insight survey of residential furniture manufacturers and distributors reported that June 2021 sales were 7% higher year-over-year. In the survey report, Smith Leonard points out that the results of their monthly survey of residential furniture manufacturers and distributors have shown significant swings when comparing to the previous year’s monthly results.

Residential Construction Employment Increased in August 2021

A closer look at the U.S. Bureau of Labor Statistics (BLS) total nonfarm payroll report for August 2021, with a focus on construction employment and analysis provided by the National Association of Home Builders (NAHB), reveals that residential construction employment rose by 17,400 in August, while non-residential construction lost -20,300 positions, reflecting declines in builders (-2,800), nonresidential specialty trade contractors (-9,200), and heavy and civil engineering construction (-8,300).

Canadian Confidence Index Dips for Third Consecutive Week

According to the latest Bloomberg Nanos Canadian Confidence Index (CCI), consumer confidence declined for the third week in a row — a reflection of the ongoing concern about a softening economic outlook. The CCI fell 1 point to a reading of 61.6 last week. This is the lowest level since March of this year.

More Homes Available For Sale in August

Realtor.com’s Monthly Housing Report for August 2021 reveals that inventory and new listings improved during the month. There were 432,000 newly listed homes hitting the market during the month of August, an increase of 4.3% in inventory year-over-year. U.S. housing inventory has declined 25.8% year-over-year in August to close out Q3 of 2021, an improvement over last month’s decline of 33.5%.

UK Continues to Struggle with Higher Prices and Shortages of Lumber, Panels, and Building Materials

According to the latest data provided by the UK’s Department for Business, Energy and Industrial Strategy (BEIS), the price of imported sawn or planed wood jumped more than 20% between June and July. The price of some imported timber has jumped 23% in just one month’s time. According to the BEIS, building materials are currently 64% higher than they were in July 2020.

Declining Lumber Prices Cause Canada’s Trade Surplus to Shrink in July

Statistics Canada (StatsCan) is reporting that in July, Canada’s merchandise imports rose 4.2% and exports increased 0.6%. As a result, Canada’s merchandise trade surplus narrowed from $2.6 billion in June to $778 million (CAD) in July. In real (or volume) terms, total imports rose 1.9% in July, while exports edged down 0.3%.

Nonfarm Payroll Employment Up — Unemployment Declines to 5.2% in August 2021

The U.S. Bureau of Labor Statistics (BLS) is reporting today (9-3-21) that total nonfarm payroll employment increased by 235,000 in August, following a revised 1.1 million in July, and a revised 962,000 increase in June. Nonfarm payroll employment has increased by 17.0 million since April 2020 but is down by -5.3 million, or -3.5%, from its pre-pandemic level in February 2020.