VANCOUVER, BC, Mar 20, 2025 (CNW Group via COMTEX) --
Single-Family Housing Starts Hit A 12-Month High in February 2025.
Since 1952 Madison's Lumber Reporter has established itself as the most reliable source for North American lumber prices and industry news. By providing a true 360º perspective on all aspects of wood products' manufacturing, Madison's makes you better equipped to anticipate other market conditions, like housing or energy.
This week is no different, so let's dive into the data:
Single-family housing starts, which account for the bulk of homebuilding, in February were also more than +11% higher than January's 995,000 units, at a seasonally adjusted annual rate of 1.11 million units but fell -2% from a year ago when it was 1.13 million.
The number of starts and permits reached the long-term threshold of 1.5 million new homes needed annually to stabilize home prices.
Total US housing permits in February were down -1% to 1.46 million units, while Single-family permits were almost flat at 992,000 units.
Shrewd investors know that construction framing softwood lumber prices are a good leading indicator for US housing activity, including home building and home sales.  Don't miss out, get lumber price data updates directly to your desktop every Friday morning.
Weakness in 2022 and early 2023 had been in single-family starts, the weakness then moved to multi-family. Multi-family starts might have bottomed early in 2024.
The inventory of single-family housing under construction stayed flat at a rate of 640,000 units, still low compared to levels in 2021.
"Home builders picked up the pace of construction in February as improved weather in the South offered better conditions for housing starts," said Nationwide Economist Daniel Vielhaber. "Given the oscillating paces of starts in recent months due to hurricanes and harsh winter weather conditions, a natural pace for starts going forward in the current high-interest rate environment is likely somewhere in between the faster February pace and slower January pace."
February housing completions were 1.59 million units, down -6% compared to the same month in 2024 when it was 1.70 million units. The completions rate for single-family housing increased by more than +7% from January to 1.07 million units in February.
Looking closely at the lumber price history, compared to the same week last year, when it was US$452 mfbm, the price of Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) for the week ending March 14, 2025 was up +$98, or +22%. Compared to two years ago when it was $365, that week's price was up +$185, or +51%, according to the latest data from Madison's Lumber Reporter.
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Madison's Lumber Reporter Weekly Summary: March 14, 2025
Framing Lumber:Commodity prices to shipping timelines to overall supply were hard to pin down. Many experienced players hadn't seen lumber market conditions like this in careers spanning multiple decades.
KEY LUMBER PRICES AND MARKET CONDITIONS TAKE-AWAYS:
Established in 1952, Madison's Lumber Prices is your premiere source for North American softwood lumber news, prices, industry insight, and industry contacts. The weekly Madison's Lumber Reporter publishes current Canadian and US construction framing dimension lumber and panel wholesaler pricing information 50 weeks a year and access to historical pricing as well.
Madison's offers a variety of products to meet your information needs regarding the North American forest products industry including:
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SOURCE Madison's Lumber Reporter
SOURCE: Madison's Lumber Reporter
Keta Kosman, Publisher, Madison's Lumber Reporter, est. 1952, Vancouver, BC, Canada,
www.madisonsreport.com, 604 319-2266
COMTEX_463780813/2197/2025-03-20T07:00:00
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