Much of what transpires in our industry is driven by the single family and multi-family housing market, economic conditions, weather, Washington and our states economic climate.
Here’s a snap shot of what’s transpiring in these areas:
Building Permits Plunge to 2 Year Low
June Single Family Housing Permits: Down 6%
Multi Family Permits: Down 16.8%
June Single Family Starts: Down 0.9%
Multi- Family Starts: Down 9.2%
Housing Affordability: Its not just lumber that drove up housing prices! Washington reduces the red tape involved that drives up housing costs. Let’s see if it works.
Interest Rates: Down. Mortgage Applications Down 1.1%
Weather: Weather conditions improve across the country which means more people are buying lumber.
Arizona’s economic climate continues to be strong with job growth and population increases. The construction and manufacturing industries continue to battle labor shortages.
ShiFt Happens in the Lumber Market:
The market shot up for a quick moment and most recently has leveled off.
For the last month, every time there is a mill closure or announcement the market runs up. Only to be followed by a retraction.
The one thing you can know for sure is that it will continue to shift.