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
Two Rivers Lumber Co. To Build $65 Million Alabama Sawmill
Two Rivers Lumber Co. To Build $65 Million Alabama SawmillGovernor Robert Bentley announced that Two Rivers Lumber Co. plans to invest $65 million to build a state-of-the-art sawmill in Demopolis that will create 55 jobs initially and a total of 95 eventually. “I am...
Report Details Global Softwood Lumber Price Growth
The upward trend of global softwood lumber prices is charted in the latest market update from Wood Resource Quarterly. Higher prices during the first six months of 2016 are due to higher demand and a weaker dollar. The report says the major importing countries have...
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.