June Lumber and Housing Updates

Wisconsin Building Supply is ready for summer and excited for all the projects our customers have in the works.

The lumber market has been active but varied, according to Random Lengths. The Framing Lumber Composite Price has been rising modestly. Quotes on Oriented Strand Board (OSB) are edging up, and Random Lengths reports demand for oversized panels has been especially brisk in the North Central Region.

We’re also looking at the latest housing statistics. Harvard University’s Joint Center for Housing Studies just released its annual study, The State of the Nation’s Housing 2011. Some news isn’t surprising -- total housing construction was down and new home sales continued to drop. Home ownership rates may be down, but if they hold at 2010 levels, the study shows projected household growth would increase the number of homeowners by 8.2 million within this decade.

The housing study says homeowners are also optimistic about owning their homes.  It references the Fannie Mae National Housing Survey that shows:

• 65 percent of homeowners say now is a good time to buy a house.
• 62 percent believe owning a home is a safe investment.
• 57 percent view homeownership as an investment with a lot of potential.

Demographic trends show an impending rebound in household growth before 2020. “The Joint Center estimates that with the immigration at half of the Census Bureau’s projected level, overall household growth, coupled with the need to replace existing homes and the demand for second homes, amounts to baseline demand for 16 million additional housing units in 2010-2020.”

At Wisconsin Building Supply, we appreciate your business and want to continue serving your needs. Please click here to take a brief survey and let us know how we’re doing.