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June 18, 2010

Housing Permits, Starts Fall Last Month

Permits for privately owned housing units were at a seasonally adjusted annual rate of 574,000 last month, down 5.9 percent from a revised rate of 610,000 in April, but 4.4 percent above the May 2009 rate of 550,000, the U.S. Census Bureau reported this week. Single-family permits in May were at a rate of 438,000, 9.9 percent below the revised April figure of 486,000 and 3.1 percent better than 425,000 permits in May of last year.

Privately owned housing starts were at a seasonally adjusted annual rate of 593,000, down 10 percent from the revised April estimate of 659,000, but up 7.8 percent over the May 2009 rate of 550,000. Single-family starts were down 17.2 percent at a seasonally adjusted annual rate of 468,000 compared to 565,000 in April. However, single-family starts were up 15.3 percent over a rate of 406,000 in May 2009.

Click here for the full release and statistical breakdown.

State of the Nation’s Housing Report Released

An assessment of the nation’s housing outlook and an overview of important trends in the economics and demographics of housing are available in “The State of the Nation’s Housing,” a report released this week by the Joint Center for Housing Studies of Harvard University. Despite some positive signs in the spring buying season this year, housing continues to face significant challenges, the report’s publishers reported in a news release. “Many factors are still weighing heavily on the market,” said Nicolas P. Retsinas, director of the joint center. “Elevated vacancy rates, record foreclosures, the expiration of the homebuyer tax credit and continued high unemployment are all cause for concern.”

On the other hand, Harvard also reported very low mortgage interest rates and recovering labor markets should be enough to shore up sales and housing starts once an “expected dip” due to the expiration of the federal homebuyer tax credit passes. “If history is a guide, what happens with jobs will matter the most to the strength of the housing rebound,” said Eric S. Belsky, executive director of the joint center.

Click here for the news release, here for the report or here for a page with links to the release, report and more.

April Imports, Southern Pine Exports Both Increase

The U.S. Department of Agriculture’s Foreign Agricultural Service recently released April trade data for lumber shipments. Softwood lumber imports are estimated at approximately 882 million board feet in April, 4 percent more than the 846 million board feet imported in March. Canada represents 96 percent of imports in April at 845 million board feet. Softwood imports for the year through April are just over three billion board feet, up 10 percent from this time last year. 

Total softwood lumber exports in April, including treated lumber, were estimated at 120.2 million board feet. Southern Pine exports were up 72 percent over March with 35 million board feet exported in April. The top destinations were Dominican Republic, Haiti, Mexico, Jamaica and Taiwan. Total Southern Pine exports through April are 90.6 million board feet, 6 percent above this time last year.

SFPA members can find detailed reports in the members-only sections at www.sfpa.org. For questions, contact Russell Richardson, interim director of treated and industrial markets, at 504/443-4463, ext. 239, or by e-mail at rrichardson@sfpa.org. 

Midyear Meeting Minutes Available

Members who want a detailed account of SFPA’s Midyear Meeting in New Orleans can now find the meeting minutes in the members-only sections of SFPA’s website at www.sfpa.org. Just click the “Meeting Presentations & Minutes” link on the left side of the page. For assistance with accessing the members-only areas, contact Georgiann Gullett, SFPA communications manager, at 504/443-4464, ext. 216, or by e-mail at ggullett@sfpa.org.

Annual Meeting Dates, Location Announced

Mark your calendars! SFPA’s 2010 Annual Meeting will be held Oct. 24-26 in Savannah, Ga. The meeting site is the Mansion on Forsyth Park, a restored hotel in Savannah’s historic district. Special room rates and additional meeting details will be announced later. Meanwhile, click here for more information about the hotel.

SPC Seeks Entries for Long-Sullivan Award

If you know a designer, builder, engineer or other professional who has creatively or uniquely demonstrated the use of Southern Pine in commercial or residential construction, it’s time to make sure that person is recognized. You can nominate him or her for the Southern Pine Council’s 2010 Long-Sullivan Award, which will be presented during SFPA’s Annual Meeting Oct. 24-26 in Savannah, Ga.

The Long-Sullivan Award is named after two early 20th century marketing pioneers of the Southern Pine lumber industry – Robert A. Long and W.H. Sullivan. SPC presented the first award to New York City architect Dennis Wedlick at SFPA’s 2005 Annual Meeting in Destin, Fla. Dennis, known for his striking residential designs, received the award because of his appreciation for and liberal use of Southern Pine. 

Please support this program that encourages and recognizes design/build professionals for their use of Southern Pine by completing and returning your nomination form to SFPA no later than Aug. 13. For more information, contact Russell Richardson, SFPA’s interim director of treated and industrial markets, at 504/443-4464, ext. 239, or rrichardson@sfpa.org.

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