Multi-Family Housing Takes Up Slack For March
U.S. housing starts edged higher in March, increasing 0.3% to a seasonally adjusted rate of 1.793 million, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
Single-family starts in March were at a rate of 1.2 million, 1.7% below February, while multi-family starts (five units or more) were 574,000, up 7.5% compared to February.
Housing building permits were at a seasonally adjusted rate of 1.873 million in March, 0.4% above February. Single-family permits were 1.147 million, 4.8% below February, and multi-family was 672,000, up nearly 11% over February.
2021 U.S. actual housing starts ended at 1.601 million, following 1.380 million in 2020.
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Vaagen Thanks Support For Midway Sawmill
The outpouring of support for Vaagen Fibre Canada’s Midway, BC sawmill, upon the early January Vaagen family announcement of the mill’s impending closure, was substantial, but apparently hasn’t changed the disappointing outcome, at least for now. The Vaagen family, whose Vaagen Brothers Lumber headquarters and sawmill is in Colville, Wash., announced on…
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…
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