According to data from Redfin, the Seattle based real estate brokerage, more than half of the offers for homes on their website were part of a bidding war for the second month in a row in June.
Wood Markets News
Gross Domestic Product Falls in First Quarter of 2020 in all 50-States and D.C.
The U.S. Bureau of Economic Analysis is reporting that real gross domestic product (GDP) fell in all 50 states and the District of Columbia, in the first quarter of 2020, when compared to the fourth quarter of 2019.
Construction Input Prices Rise in June, with Softwood Lumber up 11%
According to the Associated Builders and Contractors (ABC) analysis of the recently released U.S. Bureau of Labor Statistics (BLS) Producer Price Index (PPI), construction input prices increased 2.2% in June.
Mortgages in Forbearance Drops to 2-Month Low
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.
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.