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Home Prices Gain

Unemployment Claims Dip Under 1MM First Time Since March

| Existing Home Sales, Lumber Market | No Comments
Likely a sign that fewer people are losing their jobs, hardly a recovery, state claims offices are finally catching up on unprecedented numbers of claims. Additionally, the expiration of extended benefits are also impacting the numbers a bit as people move back into the workforce and businesses catch up with new demand. Cutting jobless benefits by 1/3 is also motivating to those needing that supplemental income - which may not cut it anymore. Encouraging; home prices are still gaining with Q2 reports now out. 3/7: 211k 3/14: 282k 3/21: 3.3M…
Raw lumber production mills

Lumber Prices Soar Despite Pandemic

| Housing Starts, Lumber Market | No Comments
Lumber Prices Rise Sharply Despite Covid-19 Lumber prices made a big comeback in the second quarter, with a nearly 60% jump for the period more than making up for a loss in the first three months of the year, as home builders rebounded from the initial effects of the pandemic. Barron's reports a near 60% jump for Q2 making up for the losses in the first quarter of the year. Unlike other sectors, production ramp-up times are far greater in sawmill production and will take some time to see production…

Unemployment Claims Topped 1 Million For 16 Straight Weeks

| Lumber Market | No Comments
US economy may be stalling out as viral outbreak worsens says AP. The reversals are keeping layoffs elevated and threatening to weaken hiring. More than 1.3 million people applied for unemployment benefits last week, the Labor Department said Thursday, down from 1.4 million the previous week but still roughly double the pre-pandemic weekly record. Applications had fallen steadily in April and May but have barely declined in the past month. The article originally appeared on AP News.
Home Renovation

Lumber Futures Looking Bright

| Housing Starts, Lumber Market | No Comments
Lumber futures are heading for their second-straight monthly gain at a time when gloom from the coronavirus pandemic was expected to curb demand. With a gain of 15% in April and another straight gain of 15% this past month, lumber commodities are some of the best performing according to those tracked by Bloomberg. Aggressive supply cuts from big producers such as West Fraser Timber Co. and Canfor Corp. have tightened supplies at a time when people staying in and deciding to fix up their homes, said Kevin Mason, managing director…
New Housing

Slow Building and Pent-up Demand Could Ignite Market

| Housing Starts | No Comments
New housing could lead to economic recovery says HBSDealer. Despite the Q1 trend and results seeing 10% fewer homebuyers in the country, as we enter the 3rd trimester of Q2, the outlook is more positive. "According to Robert Dietz, chief economist of the National Association of Home Builders, the housing sector entered this recession underbuilt. Built-up demand and low interest rates positions housing toward a path of quick recovery compared to other sectors of the economy." How this impacts materials suppliers and distribution is starting to take shape. The second…
Wooden Home Frame

Jobless Claims Still Elevated But Declining

| Lumber Market | No Comments
First-time filings for unemployment insurance totaled 2.44 million last week, about in line with economist estimates. Total filings from the beginning of the pandemic now total 38.6 million. The good news is that that the total has fallen for seven straight weeks from its record peak. We continue to see a decline as the nation reopens but fear of a second wave, uncertainty around testing, a vaccine, and contradictory medical advice still has many on edge. Plus, the level of continuing claims is a clear indication of how unemployment is…
Stacked Lumber

Dealers Continue To Report Steady Sales Into May

| Housing Starts, Lumber Market | No Comments
The FEA has completed another survey and the results are encouraging. As per the FEA: "Many dealers are reporting that their first week of May sales are remaining slow but steady, very similar to where April sales left off. The reopening of jobsites in states that have been shuttered to slow the spread of COVID-19, is adding additional sales momentum. A few jobs remain on hold, but thus far the number of cancelations remain a small fraction of ongoing and anticipated building projects. Lumber and panel producers are reporting an…
Sales Automation

Why Sales and Marketing Can’t Go Back to Business As Usual

| Product Features | No Comments
After Q1 2020, Digital Transformation Is No Longer An Option. If you're wondering if life will go back to "normal" on the trading floors... you're wrong. Now is not the time to retreat back to selling the “old” way. Now is the time for bold leadership in sales and marketing. This piece from Forbes captures what so many mills and distributors are challenged with today. The entire premise behind developing BuyChain is collaboration, accelerating sales, and helping the entire supply chain. You need to jump-start your digital transformation and if…