FEA’s Weekly Order Survey Shows May Sales Better than Initially Estimated

Many dealers are reporting that their May sales are better than they had initially estimated. The same holds true for April’s overall housing data. While certainly not spectacular, when compared to January and February 2020, the consensus is that housing numbers are not as bad as originally anticipated. Jobsite activity across North America continues to accelerate. The handful of jobs that had been placed on temporary hold are in the process of, or have already started up. With all of the ongoing jobsite activity, dealers are reporting that several pinch-points have developed in the supply chain. Mills are quoting higher prices on production scheduled for the weeks of 6/15-6/22 and on some key items beyond. Mills are also currently shipping 7 – 9 days behind schedule. Low mortgage interest rates and a dearth of new and existing homes available for sale, are keeping buyers actively pursuing their new home dreams.