Redfin, the Seattle-based technology-powered real estate brokerage reported today (1/15/21) that new listing of homes for sale were down -3% from a year earlier, the first decline since July of 2020. This as pending home sales increased by 35% during the same period
Wood Markets News
U.S. Consumer Sentiment Moves Lower in Early January
According to the latest (1/15/21) University of Michigan’s Consumer Sentiment Survey U.S. consumer sentiment declined in early January to a reading of 79.2 down from December’s final reading of 80.7.
Producer Price Index Increases 0.3% in December – Up Year-Over-Year 1.4%
The U.S. Bureau of Labor Statistics (BLS) is reporting (1/15/21), that the Producer Price Index (PPI) for final demand increased 0.3% in December, seasonally adjusted. This increase followed a 0.1% increase in November and a 0.3% in increase in November.
Critical Spotted Owl Habitat Reduction Increased 17 Times Above Original Proposal
When originally announced last year, the federal government said it wanted to reduce the spotted owl habitat by 205,000 acres. However, as the implementation moved forward the owl’s habitat reduction increased 17 times above the original 205,000 acres to 3.47 million acres.
Scotland’s Woodlands and Forests to Play Key Role in Achieving Zero Carbon Emissions by 2045
As Scotland works towards achieving net zero carbon emissions by 2045, their woodlands and forestry sector will be playing a key role in their ability to achieve that goal. Scotland’s woodlands and forests have gown in land cover from 5% at the start of the 20th century to 19% today.
Mortgage Rates Climb Higher in Week Ending January 14th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 14th January 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.79% with an average 0.7 point, up from last week when it averaged 2.65%.
Weekly Jobless Claims Move Higher in the Week Ending January 9th, 2021
The U.S. Department of Labor is reporting that an additional 965,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday January 9th. An increase of 181,000 from the previous week’s revised level. The 4-week moving average was 834,250, an increase of 18,250 from the previous week’s revised average.
Resolute Announces the Restart of the Ignace Ontario Sawmill
Resolute Forest Products has announced that it plans to restart sawmill operations at their Ignace Ontario sawmill on February 8th, 2021. The plant was closed two years ago due to poor market conditions. However, in anticipation of improved market conditions, Resolute has kept a handful of employees working at the facility keeping it maintained and ready to restart.
Itasca Capital Ltd Changes Name to GreenFirst Forest Products Inc.
Itasca Capital Ltd, has changed its name to GreenFirst Forest Products Inc. Effective January 13th, 2021, the company’s shares will be traded on the TSX Venture Exchange under the new name and trading under the symbol “GFP”.
Associated Builders & Contractors Optimism Improved in Recent Construction Backlog Survey
According to a recently conducted Associated Builders and Contractors (ABC) member survey the Construction Backlog Indicator (CBI) rebounded slightly in December to a reading of 7.3 months, an increase of 0.1 months from November’s reading. The ABC Construction Confidence Index (CCI) readings for sales, profit margin and staffing levels also increased in December.