Wood Markets News


Survey Says… Younger People are Entering the Construction Trades

According to the latest statistics coming from the 2019 American Community Survey, more young people are entering the construction trades. The share of workers under the age of 25 reached 10.8% in the construction industry, compared to only 9.7% in 2015. As a result, the median age of the construction workforce is 41, a year younger than in 2018.

Private Residential Construction Spending Gains Reported in June

Further analysis of the U.S. Census Bureau’s Construction Spending data for June, provided by the National Association of Home Builders (NAHB), show that total private residential construction spending rose 1.1% in June to a seasonally adjusted annual rate (SAAR) of $763.4 billion. Total private residential construction spending was 29.3% higher than a year ago.

Redfin Sees Further Evidence of U.S. Housing Market Cooling

Redfin, the Seattle-based technology-powered real estate brokerage, in its most recent report covering the four-week period ending July 25, 2021, is pointing to a cooling in the housing market. As evidence, Redfin points to pending homes sales posting their smallest year-over-year increase, just 7%, a level last seen in June 2020.

Interfor Expecting Production Disruptions at Interior B.C. Sawmills in Q3 Due to Impact of Wildfires and Other Factors on Log Supply

Interfor, on Thursday (7-29-21), announced that it is expecting production disruptions at its B.C. Interior sawmills during Q3 of 2021 due to the ongoing impacts of wildfires and other factors on log supply. Interfor said that based on current information, it is expecting to curtail a minimum of 50 million board feet of production across its B.C. Interior operations in August.

Morgan Sawmill Owners Hope to Help Alleviate Structural Timber Shortage

Australia’s Federal Government’s Home Builder Scheme, which was launched more than 12 months ago in response to the coronavirus pandemic, is running into a structural timber shortage which is threatening to detail the state’s housing boom. Morgan Sawmill located in Jamestown is proposing to build a second mill, located in Dublin, capable of producing enough structural lumber to build about 500 homes a year.