US lumber futures have climbed back above $600 per thousand board feet, reversing a two-month decline as supply tightens and construction activity shows signs of improvement. The rebound comes as sentiment in the housing market stabilises. The NAHB Housing Market Index rose to 38 in March, with slight gains in buyer traffic and expectations for future sales, even as financing conditions remain restrictive. Demand has been supported by a pickup in construction. Multifamily housing starts jumped by 29.1%, while overall residential construction activity increased by 7.2%. At the same time, builders continue to rely on ...
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