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US lumber prices to grow as homebuilder sentiments improved in January
Posted on February 3, 2023 |
The homebuilding business is looking to tick up again after a problematic 2022 which will drive lumber prices in an upward trend.
Home construction is related to lumber demand and prices, so a drop in the rate of construction can mean a fall in lumber prices but that may end as residential construction companies are expected to see more business in the coming months.
In January, the National Association of Home Builders (NAHB) Housing Market Index (HMI) increased to 35 from 33 in December, after the index dropped every month since December 2021.
The U.S. housing activity and the reopening of China will also increase lumber demand.