Housing Starts Come On Like Gangbusters
U.S. housing starts, both single-family and multi-family, came in hot in May at a combined seasonally adjusted rate of 1.631 million, a 21.7% increase above April. Single-family starts in May were at a rate of 997,000 an 18.5% increase over April, and multi-family was 624,000, an increase of 28% over April, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
Single-family and multi-family starts had consecutively declined the previous two months.
Building permits were at a rate of 1.491 million, 5.2% above April, with single-family permits at 897,000, an increase of 4.8%, and multi-family at 542,000, up 7.8%
Housing completions were at a rate of 1.518 million, 9.5% above April, with single-family completions at 1.009 million, 3.9% above April, and multi-family at 493,000, up 24%.
Latest News
Canfor Says It Paid Over $50 Million To U.S. In Countervailing Duties
Canfor Corporation says it paid $51.7 million in countervailing duties in the second quarter, the result of U.S. tariffs that went into force in 2017. Canfor, which sells more than half of its lumber to the U.S., reported operating income of $282.1 million for the...
Will Strong Lumber Prices Bring A New Dawn For U.S. Producers?
In the last few months, lumber supply from Canada, United States' biggest lumber provider, was shaken by a slew of factors like insect attack, forest fires and shortage of transportation. President Trump's decision to impose a huge tariff on lumber imports from Canada...
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.