Further analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data, provided by the Associated Builders and Contractors (ABC), reveals that construction and nonresidential construction input prices rose 3.5% in March 2021. Construction input prices are 12.9% higher than in March 2020, and nonresidential construction input prices are up 12.4% during that same span.
Wood Markets News
Weyerhaeuser to Restore Wildfire Destroyed Forest Lands, Use 1980 Mt. St. Helen Plan
The destruction left in the path of last year’s Oregon fire season is slowly coming into focus. Last September more than a million acres burned, destroying many homes and in some place entire communities across much of western Oregon. Weyerhaeuser timberlands were impacted by several of the fires, including approximately 125,000 acres that need to be replanted.
Producer Price Index Increased 1% in March 2021
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Producer Price Index (PPI) for final demand, seasonally adjusted increased 1.0% in March. Final demand prices rose 0.5% in February and 1.3% in January.
B.C. Premier John Horgan Warns Forestry Industry of Possible Government Tenure Take Back
In a keynote address on Thursday (4-8-21) at the virtual Council of Forest Industries (COFI) conference, British Columbia’s Premier John Horgan addressed the ongoing timber shortage in the province. “There is too little fiber, and we need to do something about that,” Horgan said.
Mortgage Credit Availability Increased in March
According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) that analyzes date from the Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability increased in March.
Canadian Employment Increased and Unemployment Declined in March 2021
Statistics Canada (StatsCan) is reporting that employment in Canada increased by 303,000 or 1.6% in March and is now within 1.5% of its pre-COVID-19 level of February 2020. The unemployment rate fell -0.7% points to 7.5% the lowest level since February 2020.
Remodelers Confidence Soars Year-Over-Year in Q1 of 2021
According to the Remodeling Market Index (RMI) released today by the National Association of Home Builders (NAHB), remodelers confidence was up sharply year-over-year. In Q1 of 2021, the RMI posted a reading of 86, up 38 points from Q1 of 2020.
Maine’s Hancock Lumber Announces Purchase of Lapointe Lumber
Maine’s Hancock Lumber, a seventh-generation integrated forest products company, which currently operates nine existing lumber yards, eight kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and timberlands, has announced that it has agreed to purchase Lapointe Lumber, a fourth-generation building materials supplier, with facilities in the Augusta and Gardiner markets.
Weekly Jobless Claims Increase in the Week Ending April 3, 2021
The U.S. Department of Labor is reporting that an additional 744,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, April 3, 2021 — an increase of 16,000 from the previous week’s revised level.
30-Year Mortgage Rate Declines in the Week Ending April 8, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending April 8, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.13% with an average 0.7 point, down from last week when it averaged 3.18%.