lumberTrack - Miller Publishing Corporation

WEST COAST TRENDS -Continued from page 12more customers. He noted that severalfirms are growing their inventory to helpclients meet all of their needs in one place.“While others are shrinking and cuttingback, we’re bringing in a lot of new productsincluding finishes, adhesives andtools,” he said. “We’re not leaving theHardwood lumber business, just expandingour product line. It eases the purchasingburden on our customers.”HOUSING CONTRACTS INCREASEON WEST COASTAccording to the National Assoc. ofRealtors (NAR), the Pending Home SalesIndex (PHSI), a forward-looking indicatorbased on contracts signed, recently rose4.6 percent to 101 on the West Coast, still1.7 percent below a year ago. Nationwide,the PHSI rose 5.3 percent to 89, butremains 12.3 percent below 2007 figureswhen it stood at 101.4.Lawrence Yun, NAR chief economist,said sales have been in a pattern of risingand falling within a fairly narrow range.G.F. Hardwoods, Inc.“A Company You Can Depend On”9880 Clay County Hwy.Moss, TN 38575-6332Contact: 1-800-844-3944Jimmy Carr - Bobby CollinsFAX 1-931-258-3517Quality AppalachianHardwood LumberSpeciesServicesFacilities• Red Oak• Poplar• Hard Maple• White Oak• Ash• Cherry• Own Trucks• Cut 4/4through 8/4• Grade AfterKiln Drying• ComputerTally• 5 LengthSeparations• 600,000 B.F.Kiln Capacity• 500,000 B.F.PredryerCapacity• YatesAmericanPlanerE-mail: gfhardwoods@info-ed.com • Website: www.gfhardwoods.com“The vacillation of data from one monthto the next indicates a housing market intransition,” he said. “The rise in pendinghome sales was broad-based with all fourregions showing gains. This is welcomenews because a rise in contract activity isnecessary for an overall housing recovery.”Sales gains have been consistentlystrong in recent months in Sacramento,Calif., while pending sales have fallensignificantly in the Pacific Northwest.NAR President Richard F. Gaylord, abroker with RE/MAX Real EstateSpecialists in Long Beach, Calif., said thehousing stimulus package would providelong-term relief. “Provisions to stem foreclosuresare helpful, but a greater lift tothe economy should come from highermortgage limits, enhancements to theFHA loan program and the first-timehomebuyer tax credit,” he said.BUILDER CONFIDENCE SLIPS ONWEST COASTAccording to the National Assoc. ofHome Builders (NAHB)/Wells FargoHousing Market Index (HMI), builderconfidence declined three points to 11 onthe West Coast, whose new-homes markethas been heavily impacted by an upswingin foreclosure sales at cut-rate prices.Overall confidence held even at 16, whilethe component gauging sales expectationsrose two points to 25.“With the passage of crucial housinglegislation that created an attractive homebuyer tax credit, there is a sense that homesales may soon be reaching a turningpoint,” said Sandy Dunn, NAHB president.“Builders are anticipating the stimulativeeffects of this legislation and areoptimistic that the tax credit will givethose buyers who’ve been sitting on thefence the reason they need to jump backinto the market.”Two out of three of the HMI’s componentindexes posted gains, including aone-point rise to 16 in the index gaugingcurrent sales conditions. The componentgauging traffic of prospective buyersremained unchanged.FIRES CONTINUE TO RAGE INCALIFORNIA, WASHINGTONAccording to the U.S. Forest Service,forest fires along the West Coast havetapped firefighting budgets dry this year.In California alone, state wildfire spendinghas increased more than 150 percentin the last decade, to more than $1 billionannually.As of press time, the Forest Service hadalready spent more than $900 million,almost 75 percent of its fire suppressionbudget, with the fire season nearing itspeak. According to estimates, some53,085 wildfires have raged in Californiawithin the last five years, covering morethan 4.6 million acres.64 Hardwoods Have Versatility