Housing Starts Increase In April
Housing starts across the U.S. increased in April 2.2% to 1.4 million according the U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction report released May 17. Notably, this is 22.3% lower than April 2022’s 1.8 million. Single-family home construction increased 1.6% to its highest level so far in 2023. Starts of apartment buildings and other multifamily projects also rose: The April rate for units in buildings with five units or more was 542,000.
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Mercer Gains Mass Timber Contract
Mercer International Inc. reported it has signed its first major mass timber project contract with a large consumer products retailer. The project, which is composed of cross-laminated timber panels, glue-laminated beams and connector elements, is expected to utilize four months of capacity at Mercer’s Spokane, Wash. facility on a one-shift basis over the course of 2023…
U.S. Housing Starts Rebound In February
U.S. housing starts brushed off a sluggish January and reached a seasonally adjusted rate of 1.45 million in February, up 9.8% over January. Single-family starts were 830,000, a percent above January, while multi-family (five units or more) were at 608,000, up a whopping 24% over January. The uptick in February broke a four-consecutive monthly decline for the combined starts…
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