The city of Spokane Washington was founded in 1873, surrounded by some North America’s most productive forests. However, until recently Spokane has never really focused on timber products in construction.
Wood Markets News
U.S. Home Prices Increase in July 2020
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices rose 6.5% from July 2019 to July 2020 and were up 1% for the month.
Mortgage Banker Associations Reports The Share of Mortgage Loans in Forbearance Drops to 6.3% for Week Ending September 13th, 2020
The latest Mortgage Banker Association’s Forbearance and Call Survey reports that the total number of loans in forbearance decreased by 9 basis points from 7.01% of servicers’ portfolio volume in the prior week to 6.93% as of September 13th, 2020.
Western Forestry Contractor Association Reminds B.C. 2021 Reforestation Bidders to Include 2020 COVID-19 Pandemic Protocols into their Work Bids
In the midst of the COVID-19 pandemic, the Western Forestry Contractor Association (WFCA) is in the process of completing one of its most ambitious and successful reforestation \ tree planting year’s to date.
U.S. Census Bureau Reports COVID-19 Pandemic Impacted Absorption Rate of Rental Units and Condos
The latest data from the U.S. Census Bureau’s Survey of Market Absorption (SOMA) reveals that the absorption rate of unfurnished and unsubsidized apartments (the share rented out in the first three months following completion) fell to 45% in Q1 of 2020, down from 53% in Q1 2019.
Existing Home Sales in August Hit Highest Level Since December 2006
The National Association of Realtors® (NAR) has reported that total existing-home sales in August, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.47% above July, to a seasonally-adjusted annual rate of 6.00 million in August.
New Home Prices in Canada See their Largest Monthly Increase in 3-years
Statistics Canada reported on Monday (9/21) that its New House Price Index (NHPI), which tracks the price of newly built homes, rose by 0.5% in August. The fourth straight month of increases and the largest increase in NHPI since May of 2017.
U.S. Household’s Market Values Increase in Q2 2020, Despite COVID-19 Pandemic
According to the second quarter of 2020 Federal Reserve Flow of Funds Report, the COVID-19 pandemic did not impact household’s market values. On the contrary, household market values continued to rise throughout all of Q2 of 2020.
Best Wood Schneider GmbH Releases Details on High-Tech Sawmill in Meßkirch
Best Wood Schneider GmbH with production site in southern Germany has released more details on their plans to build a state of the art, Euro 80 million sawmill in Meßkirch. The new mill will produce up to 200,000 m3 of lumber and 100,000 m3 of CLT per year.
Rayonier Reports Hurricane Damage in Louisiana and Wildfire Damage in Oregon
Rayonier is reporting that approximately 10,000 acres of their Louisiana timberland properties, sustained severe damage from Hurricane Laura, when she made landfall near Cameron Louisiana and moved inland through southwestern Louisiana.