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Housing and construction

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Year Published

2014

Publication

In: Forest products annual market review 2013-2014, Geneva timber and forest study. Geneva, Switzerland: United Nations Geneva: 113-125. Chapter 11.

Abstract

OECD economies, in aggregate, have been sluggish; unemployment remains high in several countries, and minimal gross domestic product gains are forecast for the Euro area through 2016.

Recession, sovereign debt problems and lethargic economies continue to constrain Europe’s housing construction market; no improvement is expected before 2015 or 2016; Germany’s positive housing market is an exception.

Housing completions in the Russian Federation achieved record levels in 2013, with a total of 912,100 new dwellings built, an increase of 10.3% over 2012 and the largest number of new dwellings built in a single year for more than 20 years.

The US housing market was mixed in 2013: there was substantial improvement in the first half of the year but waning sales inthe second half. Within this overall picture there was an improved but subdued single-family market; an expanding multi-family market; and decreasing sales of lower-priced houses versus increasing sales of higher-priced houses.

The annual rate of formation of new US households decreased by about 800,000 between 2009 and 2014; overall, there has been a 59% decline from the 2000–2006 average of 1.35 million per year.

Investor purchases, a substantial influence in the improvement of housing sales in the US, decreased in the latter half of 2013.

North American building-material demand and prices increased substantially in early 2013 but declined in the latter half of the year due to a sluggish world economy and a tepid US housing market.

The economic situation in Canada improved in late 2013 and is expected to continue to improve in 2014 and 2015. Forecasts suggest modest housing demand and starts in Canada in 2014 and 2015.

Citation

Alderman, Delton. 2014. Housing and construction. In: Forest products annual market review 2013-2014, Geneva timber and forest study. Geneva, Switzerland: United Nations Geneva: 113-125. Chapter 11.

Last updated on: April 6, 2018