Investor Presentation
Repair & Remodel Remains a Key Market for Lumber
Repair and Remodeling Market (1)
2022 U.S. Lumber Consumption by End-Use
(billion)
Multifamily
Construction
Mobile Home
Shipments
1%
$600
$500
5%
$400
Nonresidential
Construction
4%
$300
$200
$100
Industrial
Production
22%
Residential
Improvements
40%
Single Family
Construction
28%
2005
2006
Age (in Years)
1995
1997
1999
2001
2003
2005
2007
2009
2011
Median Age of Owner-Occupied Housing
2013
2015
2017
2019
U.S. Housing Stock has Aged Considerably
35
30
4252250
15
10
27
29 29 30 31 31 32
34 35
37 38 39 40
42
2007
2008
2009
2010
2011
â– Homeowner Expenditures Rental Property Owner Expenditures
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022 (e)
2023 (f)
2021
Residential improvements comprise the largest component of U.S. demand for lumber.
Rayonier
Source:
Forest Economic Advisors and Harvard Joint Center for Housing Studies.
(1)
Improvements include remodels, replacements, additions, structural alterations, and other activities that increase the value of the housing stock. Estimate (e) and forecast
(f) modeled using Leading Indicator of Remodeling Activity data from The Harvard Joint Center for Housing Studies.
Investor Presentation
August 2023
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