U.S. private residential construction spending declined 0.9% in August, as single-family construction spending slid amid surging mortgage rates. Private residential construction spending declined for the third consecutive month, standing at an annual pace of $921.9 billion.
The business activity index of the construction industry was 60.2%, increase 3.7 percentage points from the previous month.
ABC Supply recently opened a new location in Gibbon, Nebraska. Kalvin Lonowski will manage the branch.
The business of the typical NAHB (National Association of Home Builders, USA) builder grew significantly between 2020 and 2021. The median gross revenue of an NAHB builder in 2021 was $3.3 million, up 29.6% from the previous year.
Hardwoods Distribution Inc. announced that Charlotte Burke has been appointed to the Company’s Board of Directors. Ms. Burke is a skilled senior executive having held positions with national organizations.
Tibbetts Lumber Co. LLC has agreed to acquire Pensacola, Florida-based D & M Truss Co. The transaction is expected to close later in 2022.
U.S. sales of newly built, single-family homes in August increased 28.8% to a 685,000 seasonally adjusted annual rate from an upwardly revised reading in July.
In August, U.S. housing starts rebounded but housing permits declined for the second straight month. The August drop in building permits indicates that the housing market is continues to cool as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market.
From January to August 2022, China's housing construction area of real estate development enterprises was 8,686.49 million square meters, a year-on-year decrease of 4.5%.
Over the first seven months of 2022, the total number of U.S. single-family permits issued year-to-date nationwide reached 645,877. On a year-over-year basis, this is a 5.3% decline over the July 2021 level of 681,949.
U.S. prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%.
SmartLam North America and Peak Renewables to make new capital investments totaling a combined $92 million in Dothan, Alabama, and will create at least 70 jobs.
Of the roughly 1,127,000 single-family and 474,000 multifamily homes started in 2020, 37,000 (15,000 single-family and 22,000 multifamily) were built in age-restricted communities.
Kodiak Building Partners announced the acquisition of Western Interior Supply based in Denver, Colorado.
Fortress Building Products and International Wood Products, LLC enter exclusive distribution partnership ahead of 2023 building season.
Australian Sustainable Hardwoods' investment will support the MASSLAM manufacturing line to produce mass timber components from plantation shining gum, otherwise known as Plantation Oak.
Builders FirstSource has acquired Trussway, a leading provider of pre-fabricated roof and floor trusses as well as value-added building components and services.
U.S. home price growth decelerated in June and home prices grew at a single-digit annual rate for the first time in the past 23 months. As housing demand is softening, with declines for existing home sales and new home sales and weakened single-family starts, home price growth is expected to slow.
Atlas Engineered Products reports record 2Q financial and operating results, which now represents the Company's best 2Q to date.
In June, Euro 4.6 million of roundwood was purchased from private owners in Slovenia, which is about 23% less than in the previous month and about 11% more than a year ago.