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.
Wood Markets News
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.
Mortgages in Active Forbearance Increase After Six Straight Weeks of Declines
The number of mortgages in active pandemic-related bailout plans rose by 21,000 in the past week after declining for six straight weeks.
Monthly Furniture Insight Survey Reveals Increased Demand for Residential Furniture as Economy Continues to Recover
A recent survey by Smith Leonard shows improving demand for residential furniture.
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.