Existing home sales up 3.3% to 10-Year High

U.S. Existing Home Sales Up 3.3% to 10-Year High

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.

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