Dealers are reporting another week of steady to strong sales. Some dealers are anticipating that their sales might be a bit slower next week, as builders take a few days off to celebrate the 4th of July holiday, which this year falls on a Saturday. Others dealers are expecting it to be business as usual, as builders try to make up for earlier COVID-19 lost time. May’s existing home sales were a bit disappointing. However, dealers noted that new homes sales in May were higher than April’s and higher than May of 2019 levels. Dealers are reporting mills are quoting production for the late July and early to mid-August and prices continue to move higher on both lumber and panels. Dealers noted that both mills and pressure treaters are shipping behind schedule. With some orders currently 3 – 5, to as much as, 8 – 9 weeks late. A lack of available trucks, in various shipping lanes, is now slowing shipments down even further. Dealers are reporting a dearth of on ground inventory available at the producers. Buyers turning to local 2-step distributors and office wholesalers for fill-ins to cover near-term needs are reporting that due to late shipments, the secondaries inventory levels are lite and are missing several of the key items. Mortgage rates continue to hold at near record low levels, which is helping to keep new and existing home sales on the upswing.
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.