A recent survey by Smith Leonard shows improving demand for residential furniture.
Wood Markets News
Newest Ukrainian Sawmill Struggles to get Delivery of Previously Purchased Logs
The newest Ukrainian sawmill, which opened at the end of 2017, is now on the brink of survival.
New Report Indicates Oregonians Have Lost $1 Billion in Homes and Contents in Wildfires
According to a new report, Oregonians have lost almost $1 billion in homes and contents during the month’s wildfires. More than 4,000 residences have been damaged or destroyed and more than 1 million acres of forestland have been burned.
Biomass from Hurricane Michael Will Help Honduras Generate Electrical Power and More
According to Jim McKnight, Gulf County Florida’s Economic Development Coalition Director, an outlet for non-merchantable timber, such as the woody material left behind after Hurricane Michael devastated the Panhandle’s timberland’s in October 2018 has been found.
Personal Income Declines 2.7% in August
The Bureau of Economic Analysis (BEA) is reporting that personal income decreased in August to a seasonally adjusted annual rate (SAAR) of $19,493 billion. That is a drop of -2.7% in August due mainly to the expiration of the expanded unemployment insurance benefit, which provides a weekly supplement pay of $600 through the end of July.
Total Nonfarm Employment Up and Unemployment Down in September
According to the Bureau of Labor Statistics (BLS) Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined by -0.5% to 7.9%. Which represents 12.6 million Americans without employment.
FEA’s Weekly Order Survey Participants’ Views Vary Greatly from Region to Region
FEA’s Weekly Order Survey respondents’ views on their market’s activity not only varied from region to region but also appeared to reflect on whether the builder was building custom homes or tract housing.
SDS Lumber Company Exploring Changes to their Diverse Businesses
SDS Lumber Company, founded nearly 70-years ago, has announced that it is in the process of actively exploring changes to their diverse businesses.
Reuter Poll Suggests 2021 has the Potential of Being a Difficult Year for the Global Housing Markets
A recent Reuters poll conducted between September 15th – 29th, disclosed that most major housing markets around the world will not be able to keep up with consumer price inflation in 2021. As a result, they are faced with multiple downside risks, in spite of rising strongly this year amid the COVID-19 pandemic and historically low interest rates.
Mortgage Rates Move Slightly Lower in Week Ending 1st October 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 24th September 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.88% with an average 0.8 point, down from last week when it averaged 2.90%.