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
Serious About Addressing Climate Change? Build With Wood
In North America, the building sector accounts for about 37% of carbon dioxide (CO2) emissions. That represents a tremendous opportunity to reduce climate change by building more, and specifically taller, wooden buildings. A recent study by a team of scientists from...
Global Lumber Industry On Pace For A Record-Breaking Year
Global softwood lumber production is on pace to break the record set in 2015. That production is being driven in large part because the top 10 importing countries increased lumber imports during 2016’s first quarter. Global production is up 20% in the year’s first...
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.