The New Zealand international forward, Blues' top scorer so far this season, has been on loan at St Andrews since August but has now returned to parent club West Brom.
Blues boss Chris Hughton has indicated he would like to take Wood back on loan for the remainder of the season but his Baggies counterpart, Roy Hodgson has said that he would like to monitor the 20-year-old strikers progress before allowing him out on loan again.
Wood has also attracted the attention of other Championship sides and so he may choose to join another club should he be allowed to leave the Hawthorns for another loan spell.