A closer look into the Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS), with an eye towards the construction sector, reveals that the August open position count declined in step with the overall declines being reported in the JOLTS report for the month.
Wood Markets News
Mortgage Applications Increase 4.6% in Week Ending October 2nd, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 2, 2020, mortgage applications rose 4.6% from the previous week.
The Sale of the Kenora Forest Products Sawmill Sale to 1347 Investors LLC., Completed
According to an October 6th, press release, the sale of the former Kenora Forest Products sawmill, in Kenora, Ontario, Canada has been completed.
Building Code Changes Spark, a Revival in the Construction of Tall Wood Building
Updates and changes in the National Building Code in Canada, allowing for the construction of wood buildings up to 12-storey, is changing how architects, builders and developers thinks about building taller wooden structures.
U.S. Labor Department Reports Job Openings Declined in August
In its monthly Job Opening and Labor Turnover Survey (JOLTS) for August, the Labor Department reported that job openings, fell by 204,000 to 6.49 million on the last day of August.
New Speculatively Built Single-Family Detached Home Lot Size Drops to Record Low in 2019
According to the U.S. Census Bureau, the average lot size of a speculatively built, new single-family detached homes dropped to 8,177 square feet, or 0.188 of acre in 2019. This is 390 square feet less than in 2018, and sets a new record low.
Harvesting of Fire-Damaged Plantations on Kangaroo Island to Begin
Kangaroo Island Plantation Timbers Ltd. (KPT) has advised the three levels of government of its intention to harvest fire-damaged plantations on Kangaroo Island. In order to recover the higher value logs salvage harvesting will being in the area of fire-damaged pine logs.
Year-Over-Year Canadian Lumber Production 1.5% Higher in July 2020
Statistics Canada is reporting that Canadian Lumber production decreased -7.4% from June’s 4 491.1 thousand cubic meters in July 2020. Year-over-year production was 1.5% higher (July 2019 – July 2020).
Housing Inventory at Lowest Level in 10-Years as Demand Continues to Increase
Zillow reported for-sale listings dropped -34.6% below year-ago levels in early June and remain low relative to last year. This is the greatest year-over-year deficit seen since Zillow started tracking weekly statistics in 2009.
A Change in Stumpage Fees Part of B.C. Liberal Party Agenda for Upcoming Election
Leader of BC Liberal party promising to overhaul BC’s stumpage fee system if elected.