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.
Housing Starts Continue Negative PatternU.S. housing starts dropped 4.2% in October from September to a seasonally adjusted annual rate of 1.425 million, including a drop in single-family starts of 6.1% to 855,000, and a modest decline of 0.5% in multi-family starts...
Opened in fall 2022, the first mass timber commercial building in the U.S. capital city features more than 108,000 sq. ft. of mass timber. The building is an innovative retrofit at 80 M Street SE in Washington, DC: Termed an overbuild—extra stories atop an existing building—the expansion features three floors, where columns of mass timber are visible from the interior…
Article by Jessica Johnson, Senior Editor, Timber Processing November 2022 – I very clearly remember a dinner I had with one of my favorite engineers from the West Coast after a day on the sawmill show floor many, many years ago. After a few cocktails (don’t all stories get good once you hear…
The Southern Forest Products Assn. (SFPA) elected its new officers during the board of directors session at the association’s annual meeting October 21, 2022, in Nashville. The 2022-23 SFPA officers are Chairman of the Board, Mark Richardson, The Westervelt Co.; Vice Chairman of the…
In late October, after a 48-day strike, Weyerhaeuser reported the successful resolution of a work stoppage involving members of the International Assn. of Machinists and Aerospace Workers union in Oregon and Washington. Weyerhaeuser has approximately 1,200 employees who are members of…
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