The Department of Commerce on December 29th, 2020 announced its final antidumping duty (AD) and countervailing duty (CVD) determination on wood mouldings and millwork products from Brazil and China.
Wood Markets News
Nearly 50% of Home Offers Written in December Ended in a Bidding War
Redfin, the Seattle-based technology-powered real estate brokerage firm is reporting that the traditional year-end slowdown in homebuying did not occur in December 2020. In fact, not only did buying and selling continue, but according to Redfin, 49.7% of the home offers written by its agents involved a bidding war between prospective buyers.
Canadian Housing Starts Trends Increased in December 2020
According to the Canada Mortgage and Housing Corporation (CMHC) in December the trend in Canadian housing starts was at 239,052 units, up from 236,334 units in November. The trend measure is a six-month moving average of the monthly seasonally adjusted rates (SAAR) of housing starts.
Building Material Costs Increase Year-Over-Year by 5.4%
Further analysis, provided by the National Association of Home Builders (NAHB), of the December 2020, Producer Price Index (PPI), recently released by the Bureau of Labor Statistics, reveals that prices paid for goods used in residential construction in December, less energy costs, rose 0.7% and ended 2020, 5.4% above their December 2019 level.
Biewer Lumber Announces Plans for Second Sawmill in Mississippi
Biewer Lumber Company, with corporate headquarters in St. Clair Michigan, has announced they are in the process of developing and building a new state-of-the-art sawmill to be located in Winona Mississippi. The new sawmill is expected to be completed and operational by January 2022.
Canadian Home Sales Jump 7.2% from November to December – 47.2% Year-Over-Year
The Canadian Real Estate Association (CREA) is reporting that home sales in Canada jumped 7.2% in December from November. Setting a new record amid surging demand in the Greater Toronto and Vancouver areas. CREA noted that actual sales, not seasonally adjusted, rose 47.2% year-over-year.
New Home Listing Decline in Early January – First Drop Since July 2020
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
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.