Research

RISI, a leading provider of information about the forest products industry, has announced the appointment of Wade Camp as senior wood products economist. Camp comes to RISI from the Southeastern Lumber Manufacturers Association, where he held the title of director of economic services. 

Camp's career spans three decades and multiple roles from production to economic modeling, working for companies and associations such as International Paper, Georgia-Pacific and the Southern Forest Products Association. 

Existing-home sales estimates began 2011 on a positive note: up 2.7% to a seasonally adjusted annual rate of 5.36 million. That's up from a downwardly revised 5.22 million in December.

According to the estimate from the National Association of Realtors (NAR) released Wednesday morning, existing-home sales are 5.3% ahead of the 5.09 million place in January 2010.

Orlando, Fla. -- Chicago-based hardware co-op True Value Co. reported wholesale revenues increased 2.3% in the fourth quarter of 2010, and retail revenues increased 4.6% for the quarter.

CEO Lyle Heidemann delivered the preliminary results to True Value members during the General Session of the co-op's 2011 Spring & Rental Market held here in Orlando. 

"Our fourth quarter results should give us some momentum going into 2011," Heidemann said. 

Consumers may be falling out of love with their front-load washing machines, according to a survey by The NPD Group, a market research firm based in Port Washington, N.Y. A study of consumer shopping habits in the kitchen appliance category showed that top-load washers are outpacing front loaders in terms of dollar growth, up 8% vs. a slower increase of 5% for front-loaders.  

The S&P/Case Shiller Index, a bellwether for the new housing market, has reported that home prices for the month of February 2011 continue to fall from their year-ago levels but remain slightly above the April 2009 bottom point. 

The 10-City and 20-City composites fell 2.6% and 3.3% respectively from their February 2010 levels. Washington D.C. was the only market to post a year-over-year gain with an annual growth rate of 2.7%.

Canadian economists have expressed concerns about a correction in the housing market north of the U.S. border, where record borrowing, low interest rates and eager home buyers have created a building boom over the last several years.

Pending home sales are down in January for the second straight month, and are down 1.5% compared with the January 2010 figure, according to the National Association of Realtors (NAR).

The Pending Home Sales Index, a forward-looking indicator, declined 2.8% to 88.9 based on contracts signed in January from a downwardly revised 91.5 in December. The index is 1.5% below the 90.3 level in January 2010 when a tax credit stimulus was in place. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

The summer months are typically the high points for home improvement project planning, and based on the second-quarter installment of the Home Improvement Research Institute’s Project Sentiment Tracking Study, this year doesn’t seem to be different.