Woodworking Industry News

Single-family starts show gradual improvement in April

WASHINGTON — A lack of existing inventory and stabilizing mortgage rates helped push single-family production up to the highest rate thus far in 2023 even as builders continue to deal with high construction costs, persistent labor shortages, and tightening credit conditions for construction loans.   Overall housing starts in April increased 2.2% to a seasonally adjusted annual rate of 1.40 million units, according to a U.S. Department of Housing and Urban Development report and the U.S. Census Bureau.   

Woodworking Industry News

Multifamily sector shows signs of caution in the second quarter

WASHINGTON -- Confidence in the market for new multifamily housing was mixed in the second quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased six points to 42 compared to the previous quarter, dragged down largely by the for-sale condo sector. The Multifamily Occupancy Index (MOI) fell eight points to 60.