As demand for lumber products rose dramatically in the summer last year, Weston Forest began looking for additional production capacity to add to their existing business.
Wood Markets News
Junnikkala Announces Plans to Build New State-of-the-Art Sawmill in Oulu Finland
Increasing demand for high-quality and sustainable timber products in the construction industry on a global scale, combined with the positive development of the sawmill industry, has provided an opportunity for Junnikkala to make 70 million Euro investment in the construction of a modern sawmill in Oulu Finland.
The Conference Board Reports Consumer Confidence Continued to Improve in June 2021
The Conference Board, a non-partisan, not-for-profit think tank, which was founded in 1916, released today (6-29-21) their Consumer Confidence Index® (CCI) for June 2021. The CCI improved further in June, following gains in each of the previous four months.
Home Prices in April Surge 14.6% Annually in New S&P CoreLogic Case-Shiller Home Price Index
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. Census divisions, home prices experienced a 14.6% annual gain in April 2021, up from 13.3% in March. The 10-City Composite annual increase came in at 14.4%, up from 12.9% in the previous month.
Federal Housing Finance Agency Reports U.S. Home Prices Increase 1.8% Month-Over-Month and 15.7% Year-Over-Year in April 2021
According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI®) U.S. house prices increased 15.7% from April 2020 to April 2021. FHFA’s seasonally adjusted monthly index for April 2021, was up 1.8% from March 2021 upwardly revised 1.6% increase.
Shares of Mortgages in Forbearance Decline for 17th Week in a Row in Week Ending June 20th, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 2 basis points from 3.93% of servicers’ portfolio volume in the prior week to 3.91% as of June 20, 2021.
Pleasant River Lumber Company Selects Valutec to Supply a TC Continuous Kiln for Enfield ME Sawmill
Pleasant River Lumber Co., head quartered in Dover-Foxcroft Maine, has selected Valutec to supply a TC continuous kiln for their Enfield ME facility. Pleasant River operates 5-sawmills in the state, and this is the third mill to have a continuous kiln installed.
Pacific Lumber Inspection Bureau Official Response to N.C. Building Code Council Warning on use of European Lumber in N.C. Home Building
The Pacific Lumber Inspection Bureau has officially responded to the N.C. Building Code Council warnings of Friday, June 11th in regard to the use of European lumber in North Carolina home construction.
Real GDP at State-Level for Q1 2021
According to the latest U.S. Bureau of Economic Analysis (BEA), with further evaluation provide by National Association of Home Builders (NAHB), real gross domestic product (GDP) when compared to Q4 of 2020, advanced in all 50 states and the District of Columbia in Q1 2021.
Housing Market Continues to Cool as Mortgage Rates Move Higher
Redfin is reporting that the Redfin Homebuyer Demand Index (HDI) has fallen below 2020 levels for the first time this year, down -1% year-over-year in the week ending June 20th, 2021.