U.S. housing starts decreased slightly in October to a seasonally adjusted rate of 1.520 million, down 0.7% from September, while up 0.4% from October 2020, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
Single-family starts were at a rate of 1.039 million, down nearly 4% from September and less 10.6% from October 2020. Multi-family starts (five units or more) were 470,000, up 6.8% from September and ahead 39.5% over October a year ago.
The drop in October marked the fourth consecutive monthly decline for single-family starts.
Housing building permits were at a seasonally adjusted rate of 1.65 million, 4% above September and 3.4% over October 2020. Single-family permits in October were 1.069 million, 2.7% above September. Multi-family permits were 528,000 in October, 6.5% above September.
Susan Yurkovich, President and CEO of the BC Council of Forest Industries, says the British Columbia Government’s apparent intention to defer 2.6 million hectares of old-growth across British Columbia will have a “profound and devastating impact on people, families and communities across the province…
Industry stakeholders of all types worked to supply materials for the recently opened ICCU Basketball Arena at the University of Idaho in Moscow. The 4,000 seat facility, which opened in October 2021, incorporates several innovative mass timber elements across some of the longest spans in the country. Designers…
Major hardwood lumber producer Northwest Hardwoods is relocating its head office from Tacoma, Wash. to Frisco, Tex. CEO Nathan Jeppson states, “This is an important move for our company as we position for long-term growth, and…
LSI, a global specialty chemicals business with leading positions in Microbial Control Solutions (MCS) and Specialty Products Solutions (SPS) has rebranded as Arxada. The new name follows the company’s launch as an independent business in July after the completion of the sale of Lonza Specialty Ingredients from…
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