Slumping New Home Construction Lowers Lumber Demand

Construction materials including lumber are decreasing in demand, if this results in lower prices it just may be a good time for a custom home. Click here for
Spokane homes

clipped from www.spokesmanreview.com Lumber demand sees steep downturn From Staff Reports October 22, 2008 A historic downturn in lumber demand likely will extend at least a year, according to a forecast from the Western Wood Products Association. U.S. lumber demand is expected to drop 15 percent to 44.3 billion board feet this year, then fall 3 percent to 43 billion board feet in 2009, the trade association said. Housing starts are forecast to reach just 993,000 in 2008 and decline to 933,000 next year. New housing typically accounts for more than 40 percent of annual lumber demand. The downturn has led to mill closures and temporary shutdowns. The forecast said housing starts and lumber demand will grow in 2010, but cautioned that recovery will be slow.