According to a report released by Black Knight, a provider of integrated data and analytics for the mortgage and home equity lending service, there were 4.14 million mortgages in forbearance for the week ending July 10th.
Wood Markets News
Lumber Prices Rebound in Second Quarter from the Impact of COVID-19 Pandemic
Barron’s, a leading source of financial news, is reporting, what lumber and building materials dealers across North America clearly know; lumber prices rebounded in the second quarter of 2020.
New Zealand Experiencing a Sharp Fall in Log Prices
New Zealand is currently reporting a sharp fall in log prices. Evan MacClure, a Timaru-based director for Forest Management (FM) said “an estimated 30% drop in price” will impact both companies and contractors.
Worldwide Residential Sales Activity Continues to Accelerate
Knight Frank, a global real estate consulting firm, is reporting in their latest Global Property Index (GPI) that in spite of continuing localized outbreaks of the COVID-19 virus, many global cities are reporting that the sales volume of residential properties continues to improve.
Conservation Group Purchases Maine Timberland Tract
15,408 acres of Maine woodlands, from the Chadbourne Tree Farms LLC in Oxford County, has been purchased by the Conservation Fund. The tract which is primarily white pine, was assembled by the Chadbourne family over the past 150 years and includes the site of what is believed to be the first sawmill in America at South Berwick.
Swedish Sawmiller, Setra, Reports Full Production Levels During COVID-19 Pandemic
Setra, the Swedish sawmiller, is reporting that in spite of the continuing impact of the COVID-19 pandemic, they have been able to successfully maintain full sawmill production in 2020 and have not had to temporarily furlough any employees.
Canada Adds 953,000 Jobs in June. Unemployment falls to 12.3%
Statistics Canada is reporting that the economy added 953,000 jobs in June.
National Association of Realtors® Membership Reporting Home Sales are Slowly Recovering
According to the National Association of Realtors®, Market Recovery Survey, which was released on Thursday 7-9-20, 45% of NAR members are reporting that their markets are slowly starting to recover from the impacts of the COVID-19 pandemic.
Total Consumer Credit Declines for Second Month in a Row
According to the latest Federal Reserve’s G.19 Consumer Credit Report, which tracks consumer credit, which excludes loans secured by real estate, through May 2020, consumer credit decreased at a seasonally annual adjusted annual rate of 5.3% from the previous month.
FEA’s Weekly Order Survey Reports Dealers Remain Upbeat thanks to Continuing Positive Economic News
After late last week’s pause for the 4th of July holiday, dealers responding to this week’s survey, reported an uptick in sales and deliveries to their contractor customers jobsites.