This Week’s FEA Weekly Order Survey Participants Continue to See Sales Opportunities

Dealers responding to this week’s FEA Weekly Order Survey noted that July’s housing news just seems to be getting better and better. This week, the U.S. Census Bureau reported that July’s new home sales were 13.9% above the revised June 2020 rate and 36.3% above the July 2019 estimate. Dealers continue to report steady sales but mentioned that the sales lull that started 2 – 3 weeks ago continues. This as their contractor customers put the finishing touches on ongoing projects. Several respondents did make note of the NAHB report that indicated that between April 17th and August 21st, the materials needed to build a median size new single-family home increased by $ 16,000. They expressed their concerns that this could have a negative impact on recently bid projects, especially for their small to mid-size builders and the ability for new homeowners to qualify for a mortgage. Mills are reporting that many of their key items now have production dates scheduled for the weeks of 9/28 – 10/15+. However, production and logistical issues continue to delay shipments beyond their initially scheduled production dates. Again, this week, prices are being reported double digits above last Friday’s reported levels. And most of last week’s pricing established new record high levels. Office wholesalers and 2-step distributors, the usual back up for pro dealers in need of fill in inventory, continue to report that they have a dearth of product available for prompt shipment.