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.
The Westervelt Co. recently announced a change of leadership in the wood products business. Mark Richardson has been promoted to Vice President and General Manager, Wood Products, effective January 1, 2023. He will be promoted into the role currently held by Joe Patton, who recently announced his retirement after a 24 plus year career with the company…
Two of New England’s top performing eastern white pine manufacturing facilities will be stronger together as Hancock Lumber announced plans to acquire Madison Lumber Mill of Madison, NH. Hancock Lumber’s eastern white pine operations will expand to four mills with its first sawmill acquisition in more than 20 years…
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