Wednesday, February 20, 2013
US Housing Starts
US housing starts declined in January from a nearly 5-year high in December, registering 890,000 units at a seasonally adjusted annual rate (SAAR). Building permit data, a proxy for future housing starts, rose to a 925,000 unit annual rate implying that the dip in new home construction last month will be temporary.
The strong recovery in US home construction in 2012 helped boost BC wood product exports by 8 per cent last year and should continue to be an important driver of BC export growth this year.
Copyright BCREA - reprinted with permission
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