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US Rental Rates, House Values: 1Q 2019

US Rental Rates, House Values: 1Q 2019

Rental rates in the US have been rising steadily for more than 10 years. The latest data, released April 30, shows that rents for an average US apartment have risen +1.5% in the past year and more than +4% since 2010. That’s a pretty high rate-of-return, even when compared to recent stock market gains. Seemingly conflicting data however, out Thursday, says US home values are dropping. Below find analysis of this important US real estate and housing market information: US…

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US Housing Starts Rise: April 2019

US Housing Starts Rise: April 2019

According to estimates from the U.S. Housing and Urban Development and Commerce Department released Thursday, single-family and multifamily starts in the US improved in April, consistent with the recent stabilization of the NAHB/Wells Fargo Housing Market Index (HMI). Single-family starts increased +6.2% to an 854,000 seasonally adjusted annual pace in April. Total multifamily starts increased +4.7% to a 381,000 annualized rate. U.S. homebuilding increased more than expected in April and activity in the prior month was stronger than initially thought. The…

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US Spending on Residential Improvements: Feb 2019

US Spending on Residential Improvements: Feb 2019

The most recent data, released Tuesday, from Construction Spending showed that spending on US residential improvements fell to a seasonally adjusted annual rate of US$173 billion in March 2019, -14.1% lower than a year ago. RA very important segment to sawmills and lumber manufacturers, residential Improvement Spending in the US has experienced weakness after reaching the peak of US$216.7 billion in April 2018. The recent downward trend in improvements spending mirrors the recent softness of NAHB’s Remodelers’ Market Index.  Private residential improvements, as defined…

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North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: February 2019

North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: February 2019

The latest issue of the Western Wood Products Association’s monthly Lumber Track, for January-February 2019, shows a +2.1% increase in US softwood lumber production volume, to 5,780 mmfbm, compared to 5,659 million board feet (mmfbm) for the first two months of last year. There was a +3.3% increase for full-year 2018. January – February softwood lumber production in Canada dropped by -10.5%, to 4,084 mmfbm, compared to Jan-Feb 2018 when it was 4,562 mmfbm. In British Columbia lumber production continued…

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Softwood Lumber Prices Slowly Recover from Recent Lows: May 2019

Softwood Lumber Prices Slowly Recover from Recent Lows: May 2019

Some wholesaler (net FOB sawmill) standard construction framing dimension softwood lumber prices rebounded slightly last week from recent lows, while most prices remained flat from the end of April. While reasonable amounts of wood are being traded, demand could hardly be regarded as lush. Sellers, whether producers or secondary suppliers, had plenty of lumber commodity items on hand — and access to increased supply if necessary — but customers were just not coming to the table with significant buys. As…

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US Existing Home Sales: Sept 2018

US Existing Home Sales: Sept 2018

US existing home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy, said the National Association of Realtors Monday. Existing home sales dropped 3.4 percent to a seasonally adjusted annual rate of 5.15 million units last month. Home sales have now fallen for six straight months. A dearth of properties for sale has pushed up prices, sidelining many would-be homeowners. Sales dropped the most in…

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Current Softwood Lumber Prices Compared to Recent and Historical Highs: Oct 22, 2018

Current Softwood Lumber Prices Compared to Recent and Historical Highs: Oct 22, 2018

In week ending Oct.17, 2018, Western Spruce-Pine-Fir 2×4 #2&Btr KD S4S (RL) prices averaged $356 USD/MBF, a decrease of $10 (2.73%) from last week. This week’s price $70 (16.43%) less than it was one month ago. Compared to one year ago, prices are down $90 (20.18%). This week’s WSPF 2×4 #construction #framing #softwood #lumber prices are down $170 (32.32%) relative to the 1-year rolling average price of $526 and down $96 (21.24%) relative to the 2-year rolling average price of…

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North American Sawmill Capacity Utilization, Lumber Production: July 2018

North American Sawmill Capacity Utilization, Lumber Production: July 2018

US #softwood #lumber production dropped by -2.8 per cent in July compared to the month prior but grew +5.4 per cent from July 2017, according to statistics from the Western Wood Products Association’s Lumber Track. US lumber production totaled 2,905 million board feet (MMBF) in July. For the first seven months of 2018, US production totaled 20,678 MMBF, edging +5.2 per cent higher than the same period in 2017. For January to July 2018, US production in the West jumped…

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US New Housing Starts: September 2018

US New Housing Starts: September 2018

Total housing starts in the US posted a decline in September due to flat conditions for single-family construction and a pullback for apartment development. Total starts declined 5.3% in September but are 6.4% higher for 2018 on a year-to-date basis, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts was roughly flat in September, decreasing 0.9% to a seasonally adjusted annual rate of 871,000. Slight gains off the summer soft patch for…

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Sawmill Curtailments

Sawmill Curtailments

There have been sawmill closures and curtailments announced in the past week, some due to log supply issues some due to North American softwood lumber market conditions: Western Forest Products Sawmill in Ladysmith, BC, has been shut down since September 21 when a log shortage sparked by this summer’s wildfires emptied out all of its booms out front, said ChekNews Monday. Eighty workers are affected by the shutdown. The smaller trees the Ladysmith mill processes are harvested mainly from the…

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