After a healthy increase in June, US total housing starts for July 2021 fell by -7% to a seasonally adjusted annual rate of 1.534 million. For July 2021, total residential starts in the US increased by +6% from the same month one year ago, when it was 1.048 million.
US Housing Total and 1-Unit Starts July & Benchmark Softwood Lumber Prices August: 2021
Continuing the improvements of most of this year, permits for future homebuilding in July were up by +2.6% compared to the previous month, when it was 1.594 million, to a rate of 1.635 million units. However July 2021 permits are up +6% compared to July 2020 when it was 1.542 million.
June starts of single-family housing, the largest share of the market and construction method which uses the most wood, was 1.111 million annualized, a -4.5% drop compared to June, when it was 1.163 million. Single-family permits were relatively even at 1.048 million units, a -2% decrease compared to June when it was 1.066 million units.
Shrewd investors know that construction framing softwood lumber prices are a good leading indicator for US housing activity, including home building and home sales. Don’t miss out, get lumber price data updates directly to your desktop every Friday morning.– MADISON’S LUMBER REPORTER
Continuing to correct downward somewhat, in the week ending August 20, 2021, the price of benchmark softwood lumber commodity Western S-P-F 2×4 #2&Btr KD (RL) was US$390 mfbm. This is down by -$49, or -11%, from the previous week when it was $439. That week’s price is down by -$234, or -38%, from one month ago when it was $624.
Benchmark Softwood Lumber Commodity Western Spruce-Pine-Fir Price: August 2021
STAY AHEAD of US housing price data by getting access to softwood lumber prices.
Released every Friday for that week, since 1952 Madison’s Lumber Prices is used by the forest products industry as a price guide for North American construction framing dimension softwood lumber. These are, of course, the inputs into US and Canadian home building materials.
Madison’s Lumber Prices, weekly, are a good forecast indicator of US home builder’s current lumber buying activity ——> DETAILS
US Housing 1-Unit Starts & Permits July and Benchmark Softwood Lumber Prices August: 2021
When compared to the same week last year, when it was $850, price for the week of August 20 is down by -$460, or -54%. Compared to two years’ ago when it was $346, this week’s price is up by +$44, or +13%.