The U.S. Census Bureau is reporting that sales of new single-family houses in May 2020 were at a seasonally adjusted annual rate of 676,000.
Wood Markets News
Construction Sector Jobs Increased in May
According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment in May increased in 49 out of 50 states and the District of Columbia.
International Accreditation Service® Announces Additional Requirements for Testing of Brazilian Plywood Being Imported into the U.S.
The International Accreditation Service® (IAS) announced, on Friday 6/19, additional requirements for IAS-accredited organizations conducting inspections or testing of plywood products manufactured in Brazil.
Trade Tensions Between China and Canada Increase and Logs this time are at the Forefront
Trade tensions between China and Canada have once again heated up and now logs are at forefront of a new dispute between the two countries.
Year-Over-Year Housing Inventory is 17.1% Below Last Year’s Level
According to the latest report released by Zillow, year-over-year housing inventory is now -17.1% below last year’s levels and there were -3.8% fewer new listings from the week before.
Bank of Canada Prepared to Support the Canadian Economic Recovery with Low Interest Rates
Tim Macklem, said that the bank remains focused on using its policy tools, including low interest, to support the recovery of the Canadian economy from the COVID-19 pandemic.
Existing Home Sales Fall -9.7% in May
The National Association of Realtors® is reporting that total existing-home sales slumped -9.7% from April to a seasonally-adjusted annual rate of 3.91 million in May.
Meyers Research is Reporting a Significant Increase in the May Housing Market
The recently released Meyers Research, New Home Pending Sales Index (PSI) for May 2020, reports that pending homes sales decreased year-over-year but rose month-over-month across the U.S.
J.D. Irving Announces Modernization and Expansion at Doaktown NB Sawmill Starting in July
The sawmill division of J.D. Irving has announced that in July they will be starting a modernization and expansion of their Doaktown NB facility.
When it Comes to Home Renovation Projects Baby Boomers are Leading the Way
According to the results of the ninth annual Houzz & Home Survey of more than 87,000 U.S. respondents, Baby Boomers (born between 1946 – 1964), accounted for more than half of homeowners renovating their homes in 2019.