Is the softwood lumber supply-demand balance reaching equilibrium? We will only know in the coming weeks … check back often:
For July 2021, total residential starts in the US improved by +2.5% from the same month one year ago, and dropped by -7% from June 2021. Indicating strong construction activity still to come for this year, permits for future homebuilding in July were up by +6% compared to July 2020 and were up by +2.6% from June 2021.
July starts of single-family housing, the largest share of the market and construction method which uses the most wood, increased by +12% compared to July 2020. Single-family permits had a +1.7% improvement compared to June 2021.
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