VANCOUVER, BC, Feb. 19, 2026 /CNW/ - Total US Housing Starts full-year flat compared to 2024; Single-Family down -7%

Since 1952 Madison's Lumber Reporter has established itself as the most reliable source for North American lumber prices and industry news. By providing a true 360º perspective on all aspects of wood products' manufacturing, Madison's makes you better equipped to anticipate other market conditions, like housing or energy.

This month is no different, so let's dive into the data:

• The Madison's Lumber Prices Index for the week ending February 13, 2026 is: US$497 mfbm. This is up 0%, or +$1, from the previous week when it was US$496.
  This is up +2%, or +$9, from one month ago when it was US$488.
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• In the week ending February 13, 2026 benchmark softwood lumber item Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) was US$466 mfbm, which is up +$6, or +1%, from the previous week when it was $460, and is up +$17, or +4%, from one month ago when it was $449.
• Total US housing starts in December 2025 were 1.404 million units, up +6.2% from the revised 1.322 million units in November, and down -7.3% from December 2024 when it was 1.514 million units.

Single-family housing starts, which account for the bulk of homebuilding, in December rose +4.1% from November's 942,000 units, at a seasonally adjusted annual rate of 981,000 units.

It is important to note that year-to-date Total Starts (Actual) are almost flat in full-year 2025 compared to 2024, at 1,358,500 units compared to 1,367,100 in 2024. For Single-Family (not seasonally-adjusted) it is down -7%, at 943,000 units started full-year 2025 compared to 1,013,000 in 2024.

Total US housing permits in December were up +4.3% to 1.448 million units, while Single-Family permits fell -1.7% to 881,000 units.

Shrewd investors know that construction framing softwood lumber prices are a good leading indicator for US housing activity, including home building and home sales.Don't miss out, get lumber price data updates directly to your desktop every Friday morning.

The number of single-family houses approved for construction that were yet to be started dropped -4.9% to 135,000 units. The completions rate for that housing segment was flat, at 1.023 million.

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Madison's Lumber Reporter Weekly Summary: February 13, 2026

Framing Lumber:
It was a tale of two markets; as tight truck business was reported in the West, while activity remained frozen solid in the East. 

KEY LUMBER PRICES AND MARKET CONDITIONS TAKE-AWAYS: FEB 2026

• Due to the disjointed nature of this trading landscape, sellers of Western-SPF in the US had vastly different appraisals.
• Purchasers kept their inventories lean as they continued to feel uncertain about the direction of the market heading into spring.
• Experienced players kept their sights on ground-level factors like lumber inventory buildups, weather patterns, and major transportation corridors.
• After a strong January, buyers of Western-SPF in Canada remained on the sidelines for an extended period.
• There was limited prompt availability, as sawmill order files were largely into late-February or early-March.
• Ongoing severe winter weather in most regions of Eastern-SPF affected business at all levels.
• Retailers hesitated to put more stock on the ground while their yards remained filled with snow piles, and downstream demand was in hibernation.
• Some secondary suppliers sold at below-replacement costs to keep product flowing.
• In Southern Yellow Pine there was demonstrable downside pressure on key dimension items.

"Despite lower mortgages, homebuyers were holding back during the fourth quarter," Bright MLS Chief Economist Lisa Sturtevant said in a statement. "Affordability and economic uncertainty remain constraints on home buyers' willingness to get into the market. More existing inventory has also made new construction less of a draw in some markets."

The total number of housing units under construction stood at 1.3 million in December, down -10.5% from a year earlier. Single-family homes under construction fell to 587,000 units, an -8.4% year-over-year decline and the lowest level since November 2020.

Multifamily units under construction declined to 690,000, down -12.2% from a year earlier and well below the peak of more than 1 million units reached in December 2023.

Looking closely at the lumber price history, compared to the same week last year, when it was US$475 mfbm, the price of Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) for the week ending February 13, 2026 was down -$9, or -2%. Compared to two years ago when it was $442, that week's price was up +$24, or +5%, according to the latest data from Madison's Lumber Reporter. 

Established in 1952, Madison's Lumber Prices is your premiere source for North American softwood lumber news, prices, industry insight, and industry contacts. The weekly Madison's Lumber Reporter publishes current Canadian and US construction framing dimension lumber and panel wholesaler pricing information 50 weeks a year and access to historical pricing as well.

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SOURCE Madison's Lumber Reporter