The use of mass timber as a building material lowers emissions, promotes innovation, and supports value-added manufacturing. That is why Canada is investing in the use of mass timber in building applications to support Canadian forestry workers with new uses of for wood.
Wood Markets News
Södra Announces Purchase of Sawmill and Treating Facility in Sweden
Södra, the international forest industry group, which is owned by more than 53,000 forest owners, announced that pending the approval by the Swedish Competition Authority, it is acquiring Ture Johanssons Trävaru AB and AB Tenhults Impregneringsverk.
Unfilled Construction Job Openings Decline -3.5% in February
A deeper look into the Bureau of Labor Statistics, February 2021, Job Opening and Labor Turnover Survey (JOLTS) with a focus on the construction sector, provided by the National Association of Home Builders (NAHB), reveals that construction job openings declined -3.5% in February, to 266,000 unfilled positions.
Metropolitan Area Employment and Unemployment Information for February 2021
The U.S. Bureau of Labor Statistics (BLS) reported today (Wednesday, April 7, 2021) the Metropolitan Area Employment and Unemployment information for February 2021. According to the BLS, unemployment rates were higher in February than a year earlier in 383 of the 389 metropolitan areas, lower in 4 areas, and unchanged in 2 areas.
Mortgage Applications Decline for Fifth Week in a Row in the Week Ending April 2, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending April 2, 2021, the Market Composite Index, a measure of mortgage loan application volume, decreased -5.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -5% compared with the previous week.
Greenwood Forest Products Penticton B.C. Announces Immediate and Permanent Closure
Greenwood Forest Products, a Canadian wholesale manufacturer of high-quality T&G wall paneling, edge glued laminated panels, and other value-added products, announced that it had ceased production as of 1st April 2021.
Kelowna B.C. International Airport Soon to be Home of First-Ever Mass Timber Aircraft Hangar
Kelowna B.C. officials have announced that the Kelowna International Airport wills soon be home to the first-ever mass timber aircraft hangar. The two-story structure will be using state-of-the-art floor and tall wall wood-based systems to accommodate the large spacing between columns — a typical design element for a hangar but never done using mass timber building systems.
Fewer Homes For Sale, Rising Home Prices, and Interest Rates Prompt Some Buyers to End Home Searches
Black Knight Inc. — a provider of innovative, high performance software, data and analytics for the mortgage and home equity lending services — is reporting in their latest Home Price Index (HPI) that home prices in February 2021 were up 11.6%, the highest annual rate in more than 15-years.
Timber Prices Soar in China Soar as COVID-19 Dramatically Limits Timber Imports
The COVID-19 pandemic has sent timber prices in soaring in China. It has also created major supply chain pinch points as timber imports into the country have dramatically slowed. According to a report from the China News in December, China is the world’s largest importer of timber and the second-biggest timber consumer.
Shares of Mortgages in Forbearance Decline for Fifth Straight Week in Week Ending March 28, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 6 basis points from 4.96% of servicers’ portfolio volume in the prior week to 4.90% as of March 28, 2021.