Sales of existing homes fell 3.0 percent in September to a 4.9 million-unit pace from an upwardly revised 5.06 million-unit pace in August. Contract cancelations remained exceptionally high at 18 percent.
On balance, the outlook remains for moderate economic growth with the accompanying three problems of housing, employment and government restructuring.
Champion Home Builders joins forces with California-based USModular to offer turnkey solutions to developers of multifamily projects.
Finnforest is planning production curtailments at sawmills belonging to its wood products industry division due to deteriorating sales opportunities on the domestic and foreign softwood lumber markets.
The producer price index (PPI) for finished goods increased 0.5%, not seasonally adjusted (0.8%, seasonally adjusted) in September and 6.9% over 12 months, the Bureau of Labor Statistics reported on Tuesday.
A 15% increase--sequentially--for total housing starts amounts to headline eclat and a Wall Street equities market shot in the arm, as starts beat expectations by better than 11%.
September housing starts were up 15% but the increase was almost entirely within the multifamily sector. This article includes a breakdown of the September housing start data.
Agriculture Secretary Tom Vilsack has urged U.S. builders to prioritize wood in green buildings. He made the recommendation after the Forest Service concluded in a new report that using wood in building products yields fewer greenhouse gases than using common materials.