FEA’s Weekly Order Survey – Dealers Continue to Report Steady Sales in the First Week of May

Many dealers are reporting that their first week of May sales are remaining slow but steady, very similar to where April sales left off. The reopening of jobsites in states that have been shuttered to slow the spread of COVID-19, is adding additional sales momentum. A few jobs remain on hold, but thus far the number of cancelations remain a small fraction of ongoing and anticipated building projects. Lumber and panel producers are reporting an uptick in activity and mill production schedules extend into the later days of May.  As a result, lumber and panel prices are moving upward. Near record low mortgage rates have potential homebuyers searching through online listing and taking virtual home tours, as home prices continue to edge higher.