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US Built-for-Rent and Townhouse Construction: 1Q 2019
The number of single-family homes built-for-rent declined at the start of 2019. This is a very small segment of total US new home building but is the type of construction which uses the most wood, so is an excellent indicator of recent softwood lumber demand. According to data from the US Census Bureau’s Quarterly Starts…
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Softwood Lumber Sales Slow to a Trickle as Prices Flounder
North America construction framing softwood dimension lumber prices were essentially flat this week compared to last, as sellers had a difficult time dealing with the sheer lack of demand. Supplies are robust to bursting and field inventories are resplendent with wood. The latest US home building, sales, and price data has been beyond glowing; so…
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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…
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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%…
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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…
