U.S. housing starts dropped 4.2% in October from September to a seasonally adjusted annual rate of 1.425 million, including a drop in single-family starts of 6.1% to 855,000, and a modest decline of 0.5% in multi-family starts to 556,000, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
It marked the second consecutive month of decline, and for the first time this year that single-family starts dropped below an adjusted annual rate of 900,000.
Building permits declined 2.4% to 1.526 million, including a 3.6% drop in single-family permits to a rate of 839,000, while multi-family declined nearly 2% to 633,000.
Housing completions in October came in at 1.339 million, 6.4% down, with single-family at 961,000, declining 8.3%.
Hampton Lumber & Family Forests is pleased to announce the creation of a Hampton Lumber Scholarship endowment for Tillamook Bay Community College (TBCC). The endowment will provide scholarships for students in TBCC’s forestry and manufacturing and industrial technology (MIT) programs…
USNR has announced the order of a complete sawmilling system to the Chilean company Foraction Chile. This highly advanced production line is designed to process radiata pine and will be installed at a greenfield site in the Los Rios region, about 800 km south of Santiago…
KDS Windsor, Lumber Drying Technologies, (KDS) and The New York Blower Co. (NYB) have recently announced they are expanding manufacturing operations in Philadelphia, Miss. This joint venture is one of many investments in growth the past few years…
The Westervelt Company has announced a new Chief Operating Officer role, to be filled by Cade Warner effective January 1, 2023. Warner is currently Chief Sustainability Officer for Westervelt. In his new role, he will be responsible for the five business operations of The Westervelt Co.—Forest Resources…
Arizona-based forest restoration company NewLife Forest Products has rebranded itself as Restoration Forest Products, LLC (RFOR). In addition to the name change, the company announced changes to its senior leadership team…
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