Wood Markets News


Canfor Corporation Announces Production Cuts at B.C. Sawmills Starting Week of August 30, 2021

Canfor Corporation announced on Tuesday (8-24-21) that it will be implementing operation reductions at its BC sawmills, with the exception WynnWood, commencing the week of August 30, 2021. As a result, Canfor’s BC mills are expected to operate at approximately 80% of production capacity and operating schedules may continue to vary as economic conditions warrant.

Mortgage Applications Increased in the Week Ending August 20, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending August 20, 2021, the Market Composite Index (a measure of mortgage loan application volume) increased 1.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week.

July New Home Sales Up 1.0% Month-Over-Month but Down Year-Over-Year

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported that new residential single-family home sales for July 2021 were at a SAAR of 708,000, according to estimates. This is 1.0% above the revised June rate of 701,000 but is -27.2% below the July 2020 estimate of 972,000.

Multifamily Starts Remained Elevated in Q2 of 2021

Quarterly U.S. Census Bureau data, with analysis provided by the National Association of Home Builders (NAHB), reveals that the market share of rental units of multifamily construction starts remained elevated at a reading of 95.2% during Q2 of 2021.