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.
Wood Markets News
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.
Plans for a New Specialty Sawmill in St. Helena Parish Louisiana Will Not Move Forward
Florida Parishes Forest Products LLC., announced plans in early 2020 to invest $90 million in a specialty sawmill in St. Helena Parish, Louisiana, that would have provided nearly 100 permanent jobs, as well as over 120 temporary construction jobs.
PJ Clark Lumber of Coppell, Texas to Open Cadiz, Kentucky Sawmill Facility
Jacob Wadlington — a Trigg County Kentucky native who founded PJ Clark Lumber, based in Coppell, Texas, earlier this year — is returning to his family roots. Wadlington’s family has owned TW Lumber in Cadiz Kentucky and operated a sawmill there for over 25 years. Wadlington has announced that he will be opening a new lumber facility on Cerulean Road in Cadiz.
CatchMark Timber Trust Inc. Sells 18,063 Acres of Oregon Forestland to Roseburg Resource Co.
CatchMark Timber Trust, Inc. announced on Thursday (6-24-21) that had entered into a definitive agreement to sell 18,063 acres of prime Oregon timberlands — known as the Bandon property — for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co. CatchMark purchased the property in August 2018 for $88.8 million, or $4,916 per acre, exclusive of transaction costs.
Home Builders Cut Construction Time by 10-days in 2020
According to the U.S. Census Bureau’s 2020 Survey of Construction (SOC), with analysis provided by the National Association of Home Builders (NAHB), the average completion time of a single-family house was around 7.8 months, which typically includes a little over a month from authorization to start and
another 6.8 months to finish the construction. It took approximately 10 days less in 2020 when compared to 2019, pausing the upward trend started in 2014.
Personal Income and Disposable Income Decline While Personal Consumption Expenditures Rise in May
The U.S. Bureau of Economic Analysis (BEA) reported on Friday (6-25-21) that according to their estimates, Personal Income decreased -$414.3 billion or -2.0% in May 2021. Disposable personal income (DPI) decreased -$436.3 billion or -2.3% and personal consumption expenditures (PCE) increased $2.9 billion, or less than 0.1%.
Index of Consumer Sentiment up 3.1% Month-Over-Month in June and 9.5% Year-Over-Year
The University of Michigan today (6-25-21) released its “Final” Index of Consumer Sentiment (ICS) for June. Month-over-month the ICS rose 3.1% from 82.9 in May to 85.5 in June. When compared to June 2020, the ICS increased 9.5% or 78.1 to 85.5.