What do flat lines in our graphs mean for the lumber market?
Perhaps is means that supply and demand are at a temporary check mate.
Even though interest rates continue to fluctuate, nationwide residential housing starts are up and permits are also up overall since January. Approximately 75% of builders anticipated housing starts down in 2023. Builders confidence has improved by about 20% after Q1.
Multifamily is predicted to stay strong for this upcoming spring season.
As winter winds down, spring conditions are bringing a stronger demand for lumber. Building typically amps up nationwide with favorable weather conditions.
Overall, our business partners are cautiously optimistic about the consistency in volume demand for 2023.