Redfin, the Seattle-based, technology-powered, real estate company, is reporting that in the four-week period ending July 25, 2021, for the first time since early March 2021, the median home-sales price of $362,750 did not set a new record high. Instead, it was flat (-0.2%) but was still 18% higher year-over-year.
Wood Markets News
CoreLogic Home Price Index Reports Home Prices Increased 17.2% Year-Over-Year in June 2021
According to the latest CoreLogic Home Price Index™ (HPI) and HPI Forecast™ for June 2021, home prices have increased 17.2% from June 2020 — a rate of growth not seen since the late 1970’s. Month-over-month home prices increased by 2.3% compared to May 2021.
Construction Job Openings Increased in June 2021
A look at the Bureau of Labor Statistics (BLS) Job Opening and Labor Turnover Survey (JOLTS) with a focus on construction, and with analysis provided by the National Association of Home Builders (NAHB), reveals the count of open construction jobs increased in June to 339,000 unfilled positions. Overall, hiring in the construction sector remained solid in June, increasing to a 4.8% rate.
Job Opening and Labor Turnover Survey Released for June 2021
The U.S. Bureau of Labor Statistics (BLS) today (8-9-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for June 2021. According to the JOLTS report, as of the last business day in June, the number and rate of job openings was at a series record high of 10.1 million, or +590,000.
Interfor Announces Plans to Restart Recently Purchased DeQuincy, Louisiana Sawmill
Interfor Corporation and Louisiana Gov. John Bel Edwards have jointly announced the planned restarting of operations at the sawmill in DeQuincy, Louisiana, which has annual lumber production capacity of 200 million board feet. Lumber production is expected to begin in the first half of 2022.
Sierra Pacific Industries Announces Plan to Purchase Seneca Sawmill
In a joint statement released on Thursday (8-5-21), Sierra Pacific Industries (SPI) and Seneca Sawmill announce their plans to combine the two businesses. Seneca currently operates a 175,000-acre tree farm, sawmills and a biomass plant in Oregon, and SPI is a lumber producer that manages more than 2.1 million acres of timberland in California and Washington.
North American Plywood Output Experiences Stronger Output Growth in Q2 2021 than OSB
According to quarterly statistics provided by the APA, The Engineered Wood Association, North American softwood plywood mills experienced even stronger growth in their output than OSB manufactures in the period between April and June of 2021, when compared with both Q1 and Q2 of 2020.
Canadian Employment Increases for Second Consecutive Month in July; Unemployment Modestly Declines
Statistics Canada (StatsCan) today (8-6-21) released the July Labor Force Survey (LFS), which reflects labor market conditions during the week of July 11 to July 17, 2021. According to the LFS, employment in Canada rose by 94,000 (+0.5%) in July, adding to an increase of 231,000 (1.2%) in June.
Nonfarm Payroll Employment Up; Unemployment Drops to 5.4% July 2021
The U.S. Bureau of Labor Statistics (BLS) reported today (8-6-21) that total nonfarm payroll employment increased by 943,000 in July, following a 938,000 increase in June, 559,000 increase in May, disappointing increase of 278,999 in April, and surge of 785,000 in March.
Deficit of Fire Suppression Personnel Hindering Canadian and U.S. Efforts to Contain Spreading Wildfires
Despite their differences on the forest products industry, Canada and United States have a long and steeped history and tradition of helping each other out when it comes to wildfire and firefighting reinforcements. That will not be case this year, as both countries contended with one of the earliest and most severe wildfire seasons in recent times.