The U.S. Census Bureau’s 2019 Survey of Construction (SOC) is reporting that the average time from start to completion of a single-family house was around 8.1 months.
Wood Markets News
U.S. Forest Service Announces the Re-Opening of Nine of the Eighteen Closed California National Forests in Varying Degrees
The U.S. Forest Service (USFS) announced on Saturday that they were opening 9 of the 18 California National Forests, after having shut them all down to “unprecedented’ fire dangers earlier in the month.
U.S. Retail Sales and Consumer Spending Slowed in August
According to a recent report from the U.S. Commerce Department, U.S. consumer spending slowed in August.
Adera Development Doubles Down on Building Mass Timber Homes in Vancouver
Adera Development has announced it is doubling its commitment to build mass timber homes in the Metro Vancouver market. Adera is a Vancouver-based residential and commercial developer, that is among the most active developers of mass timber homes in North America.
Western Forest Products CEO responds to Changes in the B.C. Manufacture Forest Products Regulations
Western Forest Products, President and CEO Don Demens, has responded to the British Columbia provincial government changes to the Manufacture Forest Products Regulations, which are scheduled to go into effect on September 30th, 2020.
South Korea’s Trade Commission Finalizes 10.65% Duties on Imported Plywood Products from Vietnam
Following a nine-month probe, South Korea’s Trade Commission has called for anti-dumping duties of 10.65% for five years against Vietnamese plywood products for causing damage to South Korean producers.
Mortgage Loans in Forbearance Decreases for 14th Week in a Row
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 15 basis points from 7.16% of servicers’ portfolio volume in the prior week to 7.01% as of September 6, 2020.
Renters Continue to Struggle to Pay Their Rent on Time
According to Apartment List’s Rent Payment Survey (RPS) data, in spite of a slight improvement in numbers, for this month, 29% of Americans failed to pay their rent or mortgages in full during the first week of September and 8% had not yet completed their August payments by the end of the month.
Kenora Forest Products Sold to Itasca Capital
1347 LLC, operating under Itasca Capital, announced on Thursday (9-17) that they have purchased the closed Kenora Forest Products for $11.5 million. According to a media release the purchased assets include the sawmill and related equipment and lands of approximately 114 acres.
This Week’s FEA Weekly Order Survey Participants Report Overall Steady Sales
Dealers who respond to the FEA Weekly Order Survey have local, regional and in many instances national footprints. Overall, our survey participants continue to report that their sales to builders, contractors and remodelers remain steady.