Armor In Housing Starts Reveals Crack
U.S. housing starts dropped significantly in May 2022, down 14.4% from April to a seasonally adjusted rate of 1.549 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report. Both single-family and multi-family starts took hits, with single-family declining 9.2% to a rate of 1.051 million, and multi-family dipping 26.8% to 469,000.
The downslides in May come after both single-family and multi-family had one of their best performances of the year in April.
U.S. housing building permits were at a seasonally adjusted rate of 1.695 million, down 7% from April, with single-family at 1.048 million, down 5.5%, and multi-family down 10% to 592,000.
U.S. privately-owned housing completions were at a rate of 1.465 million in May, which was 9.1% above April, led by multi-family’s 33.2% gain to 417,000, while single-family was 1.043 million, up 2.8% over April.
RELATED ARTICLES
Multi-Family Housing Continues Surge
Multi-Family Housing Takes Up Slack For March
U.S. Housing Starts Gain Momentum
New Year Brings In Housing Starts Dip
U.S. Housing Starts Complete Robust Year
Single-Family, Multi-Family Starts Flourished In November
Single-Family Housing Has Narrow Drop, Multi-Family Rises, Permits Looking Good
Housing Starts Show Modest Decline In September
Multi-Family Leads Way In U.S. Housing Jump
Housing Starts Dip, Permits Still Gain
Housing Starts Gain Steam, Though Permits Show Slight Decline
Housing Starts Increase In May, Far Ahead Of One Year Ago
Single-Family Starts Dip, But Multi-Family Ticks Upward
U.S. Housing Starts Hit A High Note
U.S. Housing Dips Again in February; Pandemic Started Hitting Home A Year Ago
Housing Starts Jump Out Of Gate Slowly, But Building Permits Looking Good
Housing Starts Finish Year With A Bang
U.S. Housing Starts Continue Upward
U.S. Single-Family Starts Jump for Sixth Month In Row
Single-Family Housing Starts Rise Again
Latest News
American Wood Council Awarded USDA Grant To Research Tall Wood Construction
The American Wood Council has been awarded a $250,000 grant from the U.S. Department of Agriculture (USDA) to conduct research on the fire performance of mass timber buildings. AWC will partner with the National Fire Protection Association's (NFPA) Fire Protection...
Vermont’s Britton Lumber Hopes To Rebuild Sawmill
Vermont’s Britton Lumber Hopes To Rebuild SawmillAlmost two weeks after a four-alarm fire leveled the sawmill at Britton Lumber Co., officials there announced their intentions to rebuild the sawmill and continue the company’s other operations as usual. “That’s what’s...
USDA Awards Funds To Expand, Accelerate Wood Product Markets
Today USDA Secretary Tom Vilsack announced the award of over $9 million to expand and accelerate wood energy and other wood product markets. The federal funds will leverage $22 million in investments from partners, resulting in a total investment of $31 million in 23...
Arizona Contractor’s Plans For Lumber Mill On Hold
Plans for a lumber mill in Williams by the contractor overseeing a massive forest-thinning project in northern Arizona's forests appear stuck on the back burner. Good Earth Power AZ was reissued a grading permit this week, but it could be several weeks before...
U.S. Hardwood Lumber Exports Slow, World Markets Oversupplied
U.S. hardwood lumber exports totaled 116 million board feet in January—the latest month with available trade data—which was virtually unchanged from the prior month but down 14% from January 2014. Year-on-year shipments to Asia and Europe were down 22% and 6%,...
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.