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An example of a few headlines sent to our customers on Nov, 11 2022
Wood & Building Products

powered by Industry Intelligence, Inc.

November 11, 2022

Industry Roundup

Lumber

Conifer wood chip supplies tighten in Pacific Northwest--driven in part by drop in lumber production and Weyerhaeuser strike--sustaining high prices; strong demand, soaring chip prices also push up regional pulpwood prices to 10-year high: Forest2Market
Forest2Market Inc. (11/10)

RBC highlights wood products news for the week (Nov. 6): Lumber prices dip and OSB flat; Kronospan increases ownership in West Fraser to 10.2% from 9.4%; Bluesource Sustainable Forests to buy TFG managed entities, including 1.7 million acres of timberland
RBC Capital Markets LLC (11/10)

Plywood

Chicago entrepreneur wants to turn former Bingham, Maine, sawmill into a plywood factory utilizing state's abundant poplar and red maple; forest industry veteran Charlie Martin still pursuing funding, aims to get Maine Plywood USA running by spring 2023
Bangor Daily News (11/10)

MDF, Particleboard & Non-Structural Panels

Sonae Arauco to show its Agepan System solutions for sustainable construction, insulation, refurbishment at 26th International Wood Construction Conference (IHF 2022) in Innsbruck, Austria, Nov. 30–Dec. 2
Sonae Arauco Portugal S.A. (11/10)

Siding

Most US homeowners lean towards neutral siding colors for exterior upgrades; Harris Poll survey for Associated Materials' Alside brand finds off-white/cream and white the most popular siding shades among homeowners if they were to update exteriors in 2023
PR Newswire (11/10)

Hitch cladding attachment system by British Columbia's Longboard Architectural Products wins Architect's Newspaper Best Of Products Award; Hitch can accommodate continuous exterior insulation thicknesses from 1in. to 16in. and is Passive House-certified
PRWeb (11/08)

Decking/Fencing

Trex says some 32,000 US retail stores are involved with NexTrex Retail Recycling Program, collecting and contributing commercial and post-consumer plastics for upcycling into high-performance, low-maintenance decking, railing, outdoor living products
GlobeNewswire (11/10)

Joinery, Doors & Millwork

Masonite M-Pwr Smart Doors win multiple awards; they are first residential exterior doors to integrate power, lights, video doorbell, smart lock, and they employ patent-pending technology to connect front doors to home’s electrical and wireless systems
Business Wire (11/10)

Masonite International reports Q3 net income up 51% year-over-year to US$57M, on sales up 12% to US$728M, on strong execution in North American Residential segment; pending acquisition of Endura Products accelerates company's Doors That Do More strategy
Masonite International Corp. (11/08)

Wood Construction

Greenbuild International Conference + Expo this year, Nov. 1-3, collaborated with Industrial Wood Based Construction Conference, bringing 50 new exhibitors to Expo Floor, 15 specialized sessions on modular construction, mass timber; attendance was up 72%
EIN Presswire (11/08)

Home/Residential Furniture

Dillard’s Q3 net income falls to US$187.9M from US$197.3M last year, net sales rise to US$1.54B from US$1.48B; stronger categories were cosmetics, men’s apparel, home and furniture, shoes, while weakest category was juniors’ and children’s apparel
Dillard's Inc. (11/10)

UK retailer Next to buy online furniture seller Made.com, which had entered administration after running out of cash
Reuters (11/10)

Building Products & Wood

Cornerstone Building Brands CEO Rose Lee named a 2022 Peak 25 honoree by Triangle Business Journal; award honors executives in North Carolina's Raleigh-Durham area who became leaders in past two years and are positioning companies for growth, excellence
Cornerstone Building Brands Inc. (11/10)

Beacon opens greenfield location in Homestead, Florida; branch will strengthen Beacon OTC network service to customers in southeast of state, covering Miami-Dade County and Florida Keys
Business Wire (11/10)

Roseburg Forest Products resumes full operations of its Weed, California, veneer mill, returning 145 workers to full schedules after implementing new safety procedures since Sept. 2 Mill Fire
PR Newswire (11/10)

 Homebuilding

Residential Construction & Real Estate

Quadient to install its Parcel Pending by Quadient parcel lockers in Ireland, focusing on new property developments amid a boom in house building in the country; lockers provide a secure location for residents’ parcel deliveries with 24/7 access
Company Insight (11/10)

Experts weigh in on mortgage rates: Keller Williams economist says mortgage rates unlikely to move down until H2 2023 but more likely 2024; NAHB economist sees Fed easing up on interest rates no later than 2024, says 2023 market until then 'will be weak'
USA Today Online (11/10)

Multifamily Real Estate

US commercial and multifamily mortgage loan originations in Q3 decreased 31% from Q2, down 13% year-over-year; lower lending volumes fueled by decline in originations for office, retail and health care properties: Mortgage Bankers Assn.
Mortgage Bankers Association (11/08)

Homebuilding

Just 42.2% of new, existing US homes sold in Q3 were affordable to families earning US median income of US$90,000, down from 42.8% in Q2; decline due to rising mortgage rates, ongoing supply chain disruptions, high inflation, elevated home prices: NAHB
National Association of Home Builders (NAHB) (11/10)

D.R. Horton's fiscal Q4 net income increased 22% year-over-year to US$1.6B, consolidated revenues up 19% to US$9.6B; net sales orders down 15% to 13,582 homes and 10% in value to US$5.4B, while homes closed increased 6% to 23,212 homes
D.R. Horton Inc. (11/09)

New Homes

Share of single-family homes for sale that were new construction in Q3 was 29%, up from 25% year-ago; increase due to a surge in construction during the pandemic and a recent slowdown in existing homes for sale amid a market slowdown: Redfin
Redfin Corp. (11/08)

 Home Improvement/Furniture

Home Improvement/Hardware Stores

Lowe's partners with Wyndham to decorate airport hotel rooms with holiday theme, catering to stranded travelers amid 'inevitable' flight delays and cancellations this season; rooms will feature products all available at Lowe's
Lowe's Cos. Inc. (11/10)

CIBC Chopping Block (Nov. 4): Lumber slips as bearish tone returns, with W. SPF prices down 2.1% week-over-week to US$460/mbf, and SYP 2x4 down 1.1% to US$460/mbf; Lowe's announces sale of its Canadian retail business to Sycamore Partners for US$400M
CIBC World Markets Inc. (11/08)

The Home Depot Inc.

Henry Co., part of Carlisle Weatherproofing Technologies segment, recognized as The Home Depot’s Building Materials Vendor of the Year; this is the first time Henry has won the prestigious award in almost 20 years supplying the retailer
Business Wire (11/08)

Home/Residential Furniture

Overstock.com to launch pilot with UPS, allowing customers to have product returns picked up at their homes without reboxing the product; pilot aims to help both companies better understand customer preferences, evaluate end-to-end shopping experience
Supply Chain Dive (11/08)

 Construction/Real Estate

Industrial Construction/Real Estate

Maersk to open 100,000-sq-meter warehouse in Laguna, Philippines, to be operated by new omni-channel fulfillment team; site to integrate LF Logistics’ offerings, including distribution and end-to-end e-commerce, with completion expected by end of 2023
A.P. Moeller-Maersk A/S (Maersk) (11/10)

Ohio DOT to invest US$7.5M to convert thirteen weigh stations into truck parking lots, which includes costs for signage, pavement and construction site work; about 18 dedicated truck parking spots to be added at each facility
Transport Topics (11/08)

Mortgages/Home Financing

BofA says inflation may not fall to 3% until 2024, noting US economy isn't likely to quickly react to higher interest rates due in part to 95% of home loans are fixed-rate mortgages, consumers remain resilient with excess cash, unemployment has stayed low
FinancialPress (11/10)

Mortgage delinquencies on one-to-four-unit residential properties in the US fell to 3.45% in Q3 2022; delinquency rate down 19 basis points from Q2, down 143 basis points from Q3 2021: Mortgage Bankers Assn.
Mortgage Bankers Association (11/10)

Interest Rates

US 30-year fixed-rate mortgage averaged 7.08% as of Nov. 10, up from 6.95% last week; 30-year FRM averaged 2.98% a year ago: Freddie Mac
Federal Home Loan Mortgage Corp. (Freddie Mac) (11/10)

JPMorgan: Fed is pushing economy ‘quite unnecessarily’ into recession by raising rates to cure inflation; however, inflation is showing signs of receding, as month-over-month rate of change in prices is diminishing, supply chain issues are going away
Fortune (11/09)

 Stock

Latest: Nov, 10 2022

Latest Value Prev Chg YOY Chg
Home Improvement/Furniture
Home Depot (HD) 311.70 286.75 8.70% -15.43%
Watchlist
Bluelinx (BXC) 70.06 63.19 10.87% 3.09%
Boise Cascade Co. (BCC) 71.45 65.46 9.15% 5.20%
Builders Firstsource (BLDR) 65.08 57.05 14.08% -2.75%
Canfor Corp. (CFP.CA) 23.28 21.85 6.54% -12.58%
Interfor (IFP.CA) 25.45 23.94 6.31% -13.93%
Lousiana Pacific (LPX) 58.30 52.52 11.01% -9.13%
Lowes Companies (LOW) 204.32 186.63 9.48% -12.14%
Lumber Liquidators (LL) 7.67 7.50 2.27% -56.30%
Owens Corning (OC) 91.36 83.99 8.77% -2.82%
Saint-Gobain SA (SGO) :EPA 42.38 42.33 0.12% -30.11%
Trex (TREX) 48.10 43.49 10.60% -62.20%
West Fraser Timber (WFG) 83.06 78.16 6.27% 0.70%
West Fraser Timber (WFG.CA) 110.58 105.64 4.68% 7.28%
Weyerhaeuser (WY) 32.86 30.06 9.31% -10.92%
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