US housing starts fell 9.3 per cent in June to a seasonally adjusted annual rate (SAAR) of 893,000, but were up 7.5 per cent over June 2013. For the first six months of the year, US new home construction has averaged 954,000 units (SAAR), an increase of 5.3 per cent over 2013.
Severe winter weather slowed new home construction to start the year, in turn halting the flow of BC wood products south. As US housing starts recover, we anticipate a further boost in BC's forestry sector which associated gains in employment in household incomes.
Copyright BCREA – reprinted with permission