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US Housing Share of GDP: 3Q 2019

US Housing Share of GDP: 3Q 2019

After declines for six consecutive quarters, the home building component of gross domestic product (GDP) in the US increased during 3Q 2019. This gain was due to the housing rebound that has taken hold since the spring, with the pace of single-family permits rising since April and the rate of single-family starts increasing since May. The overall housing share of GDP in the US increased to 14.6% during 3Q 2019, as GDP growth slowed to a 1.9% rate. The home…

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Madison’s Western SPF Lumber Prices Oct 31: sneak preview

Madison’s Western SPF Lumber Prices Oct 31: sneak preview

The full Madison’s Lumber Reporter North America softwood lumber price list will be updated as usual first thing Friday morning Eastern time, however here is a sneak peak at benchmark WSPF prices: After rising +$8 last week, The price of benchmark softwood lumber item Western Spruce-Pine-Fir KD 2×4 #2&Btr jumped this week, Oct 31, 2019, up +$18 to US$396 mfbm, from US$378 mfbm; Utility/#3 grade 2×4 continued recent increases, up another +$12 to US$262 mfbm. — Madison’s Lumber Reporter This…

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Panel Prices Recover Magnificently, Big Changes at British Columbia Sawmill Operators

Panel Prices Recover Magnificently, Big Changes at British Columbia Sawmill Operators

This week started with big news as Canfor announced a bid to go private, and Conifex sold its Fort St James timber rights to Hampton, which plans to build a new sawmill within 36 months. Last week, construction framing dimension softwood lumber prices rose slightly, while Oriented Strand Board and Plywood prices absolutely soared. There are fewer panel producers than dimension lumber manufacturers — on a relative basis, and they are more disciplined with their production volumes during times of…

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Canfor Goes Private

Canfor Goes Private

The business of producing construction framing dimension softwood lumber in British Columbia just Got More Interesting: Great Pacific Capital Corporation, which already owns 51 per cent of shares in Canfor, will purchase the remaining 49 per cent at $16 each, in a deal that is estimated at more than $980 million. A special committee of lumber giant Canfor’s board has approved an almost $1-billion offer from a Jim Pattison company to take full control of the company. Late Monday night, Canfor issued a…

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Conifex Sells Fort St James Timber License to Hampton; New Sawmill Build

Conifex Sells Fort St James Timber License to Hampton; New Sawmill Build

The business of producing construction framing dimension softwood lumber in British Columbia just Got More Interesting: British Columbia has approved the transfer of Conifex’s forest licence in the Fort St. James, BC, area to Fort St. James Forest Products, a subsidiary of Hampton Lumber Mills. Conifex announced the $39 million sale in June, pending provincial approval. Conifex had suspended operations at its Fort St. James mill, putting more than 200 people out of work and prompting the district to declare…

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US House Prices vs. Softwood Lumber Prices: Oct 2019

US House Prices vs. Softwood Lumber Prices: Oct 2019

Average US House Sales Price vs Benchmark North American Construction Framing Dimension Softwood Lumber Prices: 3Q 2019 US house prices rose in August, up +0.2 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).  House prices rose +4.6 percent from August 2018 to August 2019.  The previously reported +0.4 percent increase for July 2019 remains unchanged. Median US House Sales Price vs Benchmark North American Construction Framing Dimension Softwood Lumber Prices: 3Q 2019 The…

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US New Home Sales: Sept 2019

US New Home Sales: Sept 2019

Contracts for new, single-family home sales in the US inched down -0.7% in September to a 701,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off a downwardly revised August estimate, which was decreased from an initial reading of 713,000 to a new estimate of 706,000. Year-over-year, the September 2019 estimate is +15.5% higher. Sales in September continue strength supported by lower mortgage rates. About 15% of newly…

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US Existing Home Sales, House Prices: Aug & Sept 2019

US Existing Home Sales, House Prices: Aug & Sept 2019

After reaching 17-month high last month, existing home sales in the US, released by the National Association of Realtors (NAR) Tuesday, fell more than expected in September 2019 despite low mortgage rates. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, dropped -2.2% to a seasonally adjusted annual rate of 5.38 million in September. However, sales were still +3.9% higher than one year ago. The September inventory stayed the same at 1.83 million units from August but decreased from…

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Softwood Lumber Prices Moderate Downward Over One-Month-Ago

Softwood Lumber Prices Moderate Downward Over One-Month-Ago

Last week Western Spruce-Pine-Fir KD 2×4 #2&Btr rose +$2 to close at US$370 mfbm. Last week’s price is -$12 less than it was one month ago. However compared to one year ago, when it was US$356 mfbm, this price is up +$14, or almost +4%. In a time when literally no one knows what is happening with the North American construction framing dimension softwood lumber market — let alone what will happen to the end of 2019 — the price…

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