The window of opportunity for salvaging and shipping timber impacted by last year’s Australian bushfires is quickly approaching. Kangaroo Island Plantation Timber (KIPT) needs to move both fresh and damaged crop off the island and to the mainland.
Wood Markets News
Construction Spending Up 1.7 % Month-Over Month and 5.8% Year-Over-Year
The U.S. Census Bureau has announced that total construction spending during January 2021 was estimated at a seasonally adjusted annual rate (SAAR) of $1,521.5 billion, 1.70 above the revised Decembre estimate of $1,496.5 billion.
Personal Incomes Rises 10% in January Thanks to Stimulus Payments
A deeper examination of recently released data from the Bureau of Economic Analysis (BEA) reveals that personal income rose in January to a seasonally adjusted annual rate (SAAR) of $21.454 billion.
Newly Listed Homes For Sale Hit New All-Time Record High During 4-week Period Ending February 21, 2021
Redfin, the Seattle-based technology-powered residential real estate company, is reporting for the 4-week period ending 2-21-21, the average asking prices of newly listed homes hit a new all-time high of $343,961, up 11% year-over-year.
Builder and Developer Confidence in the Multifamily Housing Market Decline in Q4 2020
According to the results of the latest National Association of Home Builders (NAHB) Multifamily Market Survey (MMS), builders and developer confidence in the multifamily market fell in Q4 of 2020. The MMS is broken into two separate indices: The Multifamily Production Index (MPI), which fell 5 points to 43; and the Multifamily Vacancy Index (MVI), which edged down two points to 42.
Led by Higher Prices for Wood Products, Canada’s Industrial Product Price Index Increased 2% in January
Statistics Canada (StatsCan) reported today (2/26/21) that prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose 2.0% in January. This is the result of higher prices for lumber and other wood products, as well as energy and petroleum products.
Sveza Adds Second CNC Machine to St. Petersburg Russia Mill
Sveza, one of the world leaders in birch plywood production, has installed a second CNC machine at its St. Petersburg, Russia mill. The new CNC machine has programed numerical controls and a distinctive feature of the new CNC machine is its ability to perform operations with plywood of large and non-standard formats.
University of Michigan Consumer Sentiment Ends February -2.8% below January’s Reading
The Index of Consumer Sentiment is at a reading of 76.8. This is below January’s reading of 79.0 (-2.8%) and down from February 2020 reading of 101.0 (-24.0%).
Aftermath of Hurricane Michael Continues to Pose Wildfire Threat in Northwest Florida
More than 2 years later the aftermath of the storm is still visible and continues to pose a wildfire threat, which according to State Forester Erin Albury could continue over the next five to eight years.
Federal Housing Finance Agency Extends Forbearance Period to 18-Months
The Federal Housing Finance Agency (FHFA) on Thursday (2/25/21), announced that borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to six months. On February 9th, the FHFA extended forbearance plans an additional three months beyond their initial 12-month expiration.