FEA’s Weekly Orders Survey

After late last week’s pause for the 4^th of July holiday, dealers responding to this week’s survey, reported an uptick in sales and deliveries to their contractor customers’ job sites. An increase in construction hiring, mortgage applications, continuing near-record-low mortgage rates, and a significant increase in the Fannie Mae Home Purchasing Sentiment Index helped to boost dealer’s positive outlook for their third-quarter sales. Mills are quoting production for the weeks of 7/29 – 8/10 and on some key items beyond. However, due to chronic production and transportation issues, mills, pressure treaters, and secondaries are reporting that they are currently shipping significantly behind schedule. As a result, late shipments remain at the top of the dealer’s concerns list. Lack of available on ground inventory is causing delays in both the starting and completion of contractor built, as well as DIY projects.