U.S. homebuilding increased in June 2020, by the most in nearly four years. Accelerated by rising demand for housing in suburbs and rural areas. The result, of employers allowing employees to work from home, rather than come to the office during the COVID-19 pandemic.
Wood Markets News
Arkansas Governor Discusses Value of Arkansas’s Timber Industry
Arkansas Governor Asa Hutchinson knows the value of Arkansas’s timber industry. Nearly 57% of Arkansas is forested and Arkansas is the ninth largest timber producer in the United States.
University of Michigan Consumer Sentiment Index Retreats in July to Near April Low Level
The University of Michigan on Friday 7/17 reported the results of their July Consumer Sentiment Index. The Index has suddenly reversed retreating from the promising June level of 78.1 to 73.2, “due to the widespread resurgence of the coronavirus.”
Holmen AB Acquires Martinsons in Cash for Shares Sale
Holmen AB, one of Sweden’s largest forestry companies, has announced that they have signed an agreement to acquire, for cash, Martinsons, one of Sweden’s leading sawn and processed wood products companies.
Wooden Skyscrapers Potential to Transform Construction by Trapping Carbon Emissions
Engineers and architects across the globe are building revolutionary skyscrapers from one of the most renewable and sustainable materials known to mankind . . . wood.
Vietnam Forestry Exports Reach 5.3 USD in First Half of 2020
The Vietnam Administration of Forestry is reporting that in the first six months of 2020, export revenues of forestry product were over 5.3 billion USD.
Redfin is Reporting that Year-Over-Year U.S. National Median Home Price at All-Time High
Redfin, the technology-powered real estate brokerage, has reported the national median home price year-over-year in June rose 2.8%, to an all-time high of $311,300.
Bank of Canada Governor’s Low Interest Rates Promise Could Create a Wave of Speculative Home Buying
Bank of Canada Governor Tiff Macklem went on the offensive offering reassurance that interest rate in Canada will remain low for at least the next 2-years.
Single-Family Housing Starts and Permits Up Month-Over-Month in June
The U.S. Census Bureau is reporting that Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,186,000. This is 17.3% above the revised May estimate of 1,011,000, but is -4.0% below the June 2019 rate of 1,235,000.
FEA’s Weekly Order Survey – Dealers Remain Optimistic About Near-Term and Future Sales
Dealers responding to this week’s Weekly Order Survey, continue to report that they remain very optimistic about both their near-term and future sales.