FEA’s Weekly Orders Survey shows Uptick in Sales Activity

After a quiet start to June, dealers are reporting an uptick in this week’s sales activity. As new projects start up, some dealers are reporting experiencing a 6% – 10% improvement over last week. Dealers continue to anticipate that their June and July construction sales will be steady to strong. Lumber producers are quoting production scheduled for late June and early to mid-July. Prices remain in an upward tilt, but this week’s increases have been more moderate when compared to previous weeks. Mills continue to ship 2 – 5 weeks behind schedule. While buyers remain willing to purchase their end of June and first week of July needs, purchasing beyond has become somewhat problematic for them. The result of higher prices and late shipments. The Feds announcement they foresee holding interest rates at near zero through 2022, was a positive sign for potential home buyers, builders and those looking to refinance existing mortgages.