Sales of existing homes in the U.S. reached a 10-year high in January jumping 3.3% to 5.69 million units on a seasonally adjusted annual rate.
This is good news for the U.S. hardwood market as home buyers typically purchase new furniture and remodel. And it re-affirms the forecast for strong remodeling activity in 2017.
Additionally, given that new housing supply remains limited, this data also supports continued strength for the U.S. framing lumber market.
Like this post? Have a problem with it? Have other ideas? Please leave a comment below.