According to the latest National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July. The HMI is now back to the March 2020, pre-COVID-19 pandemic level. A clear indication that the housing market is prepared to lead a post-COVID-19 economic recovery. There are however, some ongoing headwinds. Lumber prices are at a 2-year high, and other building materials costs are also rapidly increasing. There is also a continuing lack of skilled labor and available lots to build on.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.