U.S. housing starts (combined single-family and multi-family) showed a slight decline in November, coming in at a seasonally adjusted rate of 1.427 million, 0.5% below October, and 16.4% below starts in November 2021, 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 828,000, down 4.1% compared to October, and recording the third consecutive monthly decline; but multi-family came in at 584,000, up 4.8% over October.
Building permits declined 11.2% to 1.342 million, including a 7.1% drop in single-family to 781,000, and a 17.9% dip in multi-family to 509,000 compared to October.
Housing completions in November were 1.490 million, an increase of 10.8% over October, including single-family completions at 1.047 million, up 9.5%, and multi-family completions at 430,000, up 16% from October.
Softwood lumber is one of the three largest construction input cost reductions year-over-year from December 2021 to December 2022, according to a recent ConstructionDive market report. Citing Producer Price Index data from December 2022, the report noted that overall…
The Red Rock Biofuels project in southern Oregon appears headed for foreclosure according to notices published in the Lake County Examiner newspaper in late December after the company failed to make principal and interest payments on some $300 million in debt. The notice set a February 4 payment…
Opticom Technologies, a leader in industrial video monitoring solutions, is celebrating 50 years in business. The company, founded in 1973, has evolved to continue offering innovative products as video monitoring technology has advanced. “It’s unique for a video monitoring company to have 50 years of history under its belt,” comments Opticom Global…
Structurlam Mass Timber Corp., a mass timber manufacturer in North America, has announced it is temporarily suspending operations and reducing staff at its Conway, Ark., plant due to a customer contract cancellation…
Vaagen Fibre Canada (an affiliate of Vaagen Brothers Lumber) announced it is shutting down its Midway, BC sawmill indefinitely, while indicating it is looking for solutions to keep the operation going, and encouraging those impacted throughout the Boundary, West Kootenay, and Okanagan regions to appeal to the Ministry of Forests…
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