Sales were quieter in the eastern spruce lumber market yesterday, although demand was strong. Aggressive selling was evident. Buyers sized up weaknesses and opportunities to put some business together with the mills, who can, and will ship quick on some items. Traders generally are not chasing shipments. A report from the National Association of Realtors showed that the inventory of residential housing is very low, at less than 3 months compared to an average of 6 months. The need for new housing is evident, indicating a healthier building season ahead at some point.
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