Wednesday, February 19, 2014

US Housing Starts

US housing starts in January fell 16 per cent from December to a seasonally adjusted annual rate (SAAR) of 880,000 units, well below expectations of 950,000 units.  However, new home construction in January was impeded by severe winter weather in many parts of the United States and we expect housing starts to climb in the spring and summer months.

The recovery in US homebuilding provided a significant boost to BC's struggling forestry sector in 2013, prompting over 20 per cent growth in shipments of lumber and other wood products. As new home construction down south continues to grow, housing markets in BC’s lumber producing regions should benefit from improved employment and household incomes.

Copyright BCREA - reprinted with permission 

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