Sales in the SPF lumber market increased, leading to raised prices among producers. Southern pine lumber gained momentum, while coastal species lumber increased slightly. Inland lumber species continue to transition to a vibrant market.
The country's home-building machinery were hit hard during the recession. Now that the housing sector is witnessing increased demand, prices have increased for a number of key construction materials.
The Fredonia Group reports that global demand for doors and windows is expected to rise 7.1 percent each year and equal $223 billion through 2017. This growth will be caused by recoveries in the construction markets of many developed countries.
Total construction spending increased 0.5 percent in May to $875 billion, up 5.4 percent from May 2012, as residential and public construction growth overbalanced a decline in private nonresidential building.
With housing starts rising through 2013 and into 2014, the Engineered Wood Association predicts growth in structural panels, I-joists, glulam, and LVL.