Wood Markets News


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.

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.

First Time Home Buyers Currently Make up 43% of New Home Market

Results of the February survey for the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reveals that first-time home buyers comprise ~43% of the new home market. The average first-time buyer share has trended upward steadily since NAHB began using the current methodology to measure it in 2016.