9
UNECE/FAO Forest Products Annual Market Review, 2014-2015
are projected to have the largest combined new construction and remodelling markets (value basis) through 2017.
market was steady in 2014, and projections are for a gradual improvement in starts and sales through 2016.
The US housing market is yet to fully recover. Multifamily housing permits and starts in 2014 are above where they have been for the last 20 years, but single-family housing starts are at about 60% of their historical average. New housing sales have increased, but they are still as low as they have been since the early 1980s. Spending on single-family construction increased in 2014, but spending on remodelling and multifamily construction appeared to level off. The US forecast is for incremental improvement through 2016. Canada’s housing
Housing completions in the Russian Federation reached record levels in 2014, with 1.08Â million new residences completed, a year-over-year increase of 20.3%, while residential floor area put in place increased by 18.6%. The number of residences put in place in 2014 and their total floor area were both the highest in Russian history. Moreover, the number of residences put in place from January to May 2015 was nearly 25% higher than inthe same period in 2014.
1.6
REFERENCES
IMF. 2015. eLibrary data. International Monetary Fund. Available at: http://data.imf.org/?sk=af1819f1-9b6c-43ec-bee4-b1b55fa54cf7 UNECE/FAO. 2015. TIMBER database. Available at: www.unece.org/forests