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RBC highlights wood products news for week of Feb. 19: Lumber prices rise, but OSB declines; January housing starts and housing permits come in below consensus; builder sentiment rises for third consecutive month, marking highest level since August 2023

CIBC: US housing starts well below expectations in January, down 15% month-over-month, while building permits also fall below estimate and dip 2%; builder confidence improves for third straight month, lifted by expected Fed rate cuts in H2, other factors

US privately‚Äźowned housing starts in January fell 14.8% from December to seasonally adjusted annual rate of 1,331,000, 0.7% lower annually; building permits rose 8.6% annually to 1,470,000, housing completions up 2.8% to 1,416,000: Dep. of Commerce

John Burns Consulting: Single-family permit volumes expected to increase across all US markets in 2024, led by Florida and Midwest; many homebuilders see strong community count growth, driven by improved cycle times, ongoing use of mortgage rate buydowns

Value of Canada's building permits fell 14.0% to C$9.2B in December; value of residential building permits decreased 17.9% to C$5.7B, driven by a significant decline in multi-unit construction intentions: Statistics Canada

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