After a downward slip in July, U.S. housing starts, riding a multi-family hike, increased to a seasonally adjusted rate of 1.615 million in August, 3.9% above July and 17.4% over August a year ago, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
While single-family starts came in at 1.076 million, down 2.8% from July, multi-family (five units or more) shot to 530,000, a whopping 21.6% increase over July and 60% above August a year ago.
Housing starts began a run of consecutive monthly jumps in August 2020 that carried through the end of the year.
Housing building permits were at a seasonally adjusted rate of 1.728 million, 6% above July and 13.5% over August a year ago. Single-family permits came in at 1.054 million, less than a percent above July and basically even with August a year ago. Multi-family permits were 632,000, nearly 20% above July and almost 53% above August a year ago.
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…
U.S. housing starts in August jumped 12.2% over July to an annual rate of 1.575 million, breaking a three month losing streak, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report…
Find Us On Social
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Complete the online form so we can direct you to the appropriate Sales Representative.