Single-Family Housing Starts Show Strength
U.S. housing starts had a minor dip in March, at 1.42 million, down 0.8% from February, though single-family starts were at a rate of 861,000 in March, an increase of 2.7% from February, while multi-family (five units or more) were 542,000, down 6.7% from February, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.
Building permits were at a rate of 1.413 million in March, down 8.8% from February. Single-family permits were 818,000, a 4.1% increase, while multi-family was 543,000, down 24%.
Housing completions were 1.542 million, 0.6% below February. Single-family completions were 1.05 million, 2.4% above February, while multi-family was 484,000, down 7%.
Latest News
North American Lumber Prices Begin Their Climb
Spot lumber prices, as reported by the industry publication Random Lengths, headed lower in the final months of 2014 before tumbling in the first 4months of 2015. At the end of April, spot spruce pine fir (S-P-F) 2x4 #2&Btr mill prices stood at $249 per thousand...
Hardwood Checkoff Opponents Win Delay For More Comments
Following a request by Hardwood Checkoff opponents, the woodworking industry now has until Sept. 7 to submit comments on the proposed program. Hardwood Checkoff would set a tax on lumber producers to help promote wood sales, similar to the "Got Milk?" and "Pork: The...
Study Shows That Timber Buildings Cost Less To Build
A new study shows that timber buildings can be up to 10-15% cheaper to construct than traditional designs in several different building types. The study, “Commercial Building Costing Case Studies – Traditional Design versus Timber Project,” was led by Andrew Dunn,...
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