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
Montana Timber Industry Facing Increasingly Tough Times
At Sun Mountain Lumber in Deer Lodge, about 50 of its 160-person workforce got pink slips this fall – but owner Sherm Anderson says the sawmill and timber company is still losing money. “We laid off one shift, and all that does is slow down the bleeding, to where you...
Colorado Billionaire Conservationist Proposes Huge Sawmill
Colorado Billionaire Conservationist Proposes Huge SawmillHedge-fund manager and renowned conservationist Louis Bacon plans to build a large sawmill in the San Luis Valley to help process timber harvested from his Trinchera Blanca Ranch, the largest contiguous ranch...
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.