Siding prices are expected to rise with uptick in new residential construction
- May 14th, 2010
- In: Wood Siding
- By: Rob Sabo
Lumber manufacturer Louisiana-Pacific's first-quarter earnings are an indication that siding prices may be on the rise due to increased residential construction. It wouldn't be hard for residential starts to top numbers from 2009, which saw just 554,000 new privately owned housing starts. By way of comparison, two years earlier there were 1,3550,000 new housing starts, the U.S. Census Bureau reports. As a result, lumber manufacturing giants such as Louisiana-Pacific scaled back production as demand waned. Prices for materials such as siding dropped as well. But LP's recent first-quarter earnings showed a 20 percent increase in siding sales from '09. The company's siding segment reported net sales of $90 million in the quarter, with a profit of $14 million before taxes, ...


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