Additional positive news coming from the housing industry this week, combined with continuing near record low mortgage rates, and an increase in the number of buyers who are actively pursuing the purchase of a new or existing home, provided dealers responding to our weekly Builder Activity Survey more reasons to remain optimistic about their near-term business activity. Dealers continue to voice their concerns about the growing number of COVID-19 cases. However, to date, those numbers have not negatively impacted their contractor customers jobsite activity. Mills are quoting production scheduled for the weeks of 8/24 – 9/7+ and prices on many items are closing in on, or have already surpassed previous historic high levels. Office wholesalers, pressure treaters and local 2-step distributors are also continuing to report a lack of quick shipping inventory. Late shipments due to ongoing mill production and transportation issues, along with higher prices, some which have almost doubled since late March, have buyers feeling anxious. Especially, with the lack of back up \ fill in inventory at the secondary level.
FEA's Weekly Order Survey Results