U.S. housing market data continues to show strong momentum.
In a measure of the luxury housing segment, Toll Brothers reported a whopping increase of 21% in new home orders compared to the same quarter in 2016.
Average selling prices were $773,700.
This supports our outlook for continued near-term strength in the U.S. lumber market. It also suggests that demand for luxury hardwoods, including exotic hardwoods, will remain healthy despite some indication in a shift towards lower priced flooring options.
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