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
Oregon Truckers File Suit Against State
Rob Freres, president of Oregon-based Freres Engineered Wood, a manufacturer of lumber, veneer, plywood and mass timber, has thrown in his support for a lawsuit filed by the Oregon Trucking Assn. and three Oregon-based trucking companies against the state of Oregon for overcharging truckers under the weight-mile tax.
Hasslacher Enters North America
Austria-based Hasslacher group is acquiring a stake in Element5, a mass timber producer specializing in the design, manufacture and assembly of modern engineered timber buildings. Based near Toronto, Can., Element5 employs more than 100 and produces cross-laminated timber and glued laminated timber for the North American market.
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