Thursday, May 16, 2013

US Housing Starts


US housing starts fell to a five-month low in April, slumping nearly 17 per cent to 853,000 at a seasonally adjusted annual rate (SAAR). Housing starts had reached a 1.02 million (SAAR) pace in March. Slower construction activity in April likely reflects a temporary pause in the housing recovery underway down South. Building permits, a key proxy for future activity, increased 14.3 per cent.

The strong recovery in US home construction continues to boost BC wood product exports and manufacturing output. Sales of BC manufactured wood products rose 40 per cent year-over-year in March and are up 34 per cent through the first quarter.

Copyright BCREA - reprinted with permission

No comments: