Housing market and woodworking: industry plans and actions

Abstract

What are the market conditons for woodworkers involved in construction-based sectors and how do they plan to improve their capabilities? For perspective, the total value of private construction (residential and nonresidential) put in place in the United States was nearly $1.5 trillion ($1,435 billion) in 2022, up 12.1% from 2021. Spending increased in all residential categories: 4.4% for single family, 4.4% for multi-family, and 31.4% for residential improvements. Spending on nonresidential construction also increased by 9.8%. However, the increases in private construction spending reflect, in part, inflationary prices throughout 2022.

Citation

Bumgardner, Matt; Buehlmann Urs; Koenig, Karen. 2023. Housing market and woodworking: industry plans and actions. FDMC. July: 22-24, 26.