Housing starts, sales and prices are all expected to plunge until a recovery, which is expected to start sometime in mid-2021, gets underway.
Wood Markets News
Mortgage Rates Return to a Nearly a 50-year Low
The Primary Mortgage Market Survey shows that 30-year fixed-mortgage rate averaged 3.15% with an average 0.8 point, down from last week when it averaged 3.24%.
Nonfarm Payroll Employment Drops in April – Construction Industry Loses Almost a Million Jobs
According to the Bureau of Labor Statistics, nonfarm payroll employment dropped in all 50 states and the District of Columbia, in April 2020.
Cleveland Ohio to Have Tallest Timber-Frame Building in the U.S.
Chicago-based Harbor Bay Real Estate Advisors LLC. is pressing forward with its plan to construct what will be the tallest timber-frame building in the U.S.
Canfor Updates B.C. Mill Curtailments and Closures
Canfor Corporation has offered an update on recent mill curtailments and closures.
West Fraser Announces Most Lumber and Panel Mills Returned to Full Operations in May
West Fraser has announced that during the month of May, they have successfully resumed full capacity lumber and plywood production at all but a few facilities.
Russian Log and Lumber Export Volumes Down, Plywood Up in First Quarter
Russian forest product exports mostly down during the first quarter of 2020.
The Conference Board Reports their Consumer Confidence Index® Held Steady in May
After sharps declines, signs of stabilization appear in Consumer Confidence indices.
The S&P CoreLogic™ Case-Shiller Index Reports Home Prices Accelerated in March
According to the Case-Shiller index, home prices rose 4.4% annually, up from 4.2% in February.
FHFA Reports House Prices Increased in First Quarter of 2020
U.S. house prices rose in the first quarter of 2020, up 1.7%.