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
Wood Runs Out For Ardew Wood Products
A lack of timber is blamed for the slated Jan. 11 closure of Ardew Wood Products Ltd., marking the end of another long-established resources business in Merritt. Owner of the family-operated business Erik Norgaard said limited resources including timber have caused...
New Year Bodes Well For Mills
Story by Rich Donnell, Editor-in-Chief Wow, what a year! I think we can say it has ended on a higher note, mainly because of some improvement in homebuilding, which is projected to only get better next year and the next. At a recent wood products companies meeting, I...
WorkSafeBC Asks Crown To Probe Deadly Sawmill Explosions; Jail Time Possible
WorkSafeBC will refer its findings of workplace violations in two deadly sawmill explosions to Crown counsel for possible charges, opening up the possibility of fines or jail time. If the Crown decides to go forward with charges, they would fall under workplace safety...
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