According to the latest National Association of Realtors® Quarterly Report, released on Tuesday (5-3-22), Q1 of 2022 saw more markets reach double-digit annual prices gains than in Q4 of 2021. Seventy percent of 185 measured metros experienced such price gains, up from 66% in the previous quarter.
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending April 29, 2022, the Market Composite Index (a measure of mortgage loan application volume) increased 2.5% on a seasonally adjusted basis from one week earlier.
According to the March ADP® National Employment Report™, released today (5-4-22), nonfarm private sector employment increased by 247,000 jobs from March to April. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.
Interfor Corporation announced on Monday (5-2-22) that its wholly owned subsidiary, Interfor East Ltd., had acquired 28,684,433 common shares in the capital of GreenFirst Forest Products Inc. (GreenFirst) from Rayonier A.M. Canada G.P., which represents approximately 16.2% of GreenFirst’s issued and outstanding common shares.
At last Thursday’s Council of Forest Industries conference, analysts and economists speaking at the forum began using the dreaded “R” word. Some speakers said openly that by end of 2022 or early 2023, at least Europe, and potentially North America, could be in a recession due to run-away inflation, the war in Ukraine, and rising interest rates.
A closer look at today’s (5-3-22) U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS), with the construction sector as the focal point, reveals that the construction labor market remained tight in March, and the number of job openings continued to increase year-over-year.
On Tuesday (5-3-22), the U.S. Bureau of Labor Statistics reported the Job Openings and Labor Turnover Summary for March 2022. According to the report, as of the last day in March, the number of job openings was at an all-time series high of 11.5 million, or a rate of 7.1%. This shows only minor changes from the February report.
In his keynote address on Friday to the British Columbia Council of Forest Industries Conference, B.C. Premier John Horgan said that the only way the provincial forest industry will grow is through partnerships with the First Nations and companies. Horgan noted that co-operation was vital to sustain employment and profitability in the industry.
On Monday (5-2-22), the U.S. Census Bureau reported that total construction spending during March 2022 was estimated at a seasonally adjusted annual rate (SAAR) of $1,730.5 billion, 0.1% above the revised February estimate of $1,728.6 billion. The March figure is 11.7% above the March 2021 estimate of $1,548.6 billion.
According to the International Tropical Timber Organization (ITTO), in March 2022, the value of Brazilian exports of wood-based products (excluding pulp and paper) increased 30% in value compared to February 2021. Pine sawnwood exports grew significantly, rising 51% in value between March 2021 and March 2022.