Who is still building?
Who is still buying?
Who is still lending?
My customers(munber yards and truss plants) in OKC, Coeur d’Alene, Boise are all very busy.
My customers in Minny, Phoenix, are all slower than last year.
No one is as busy as they were a couple years ago. However, most economists were thinking and telling us we were going into a recession by the third/forth quarter of this year.
So, everywhere was very cautious the first quarter. It picked up significantly in April and May. It has continued to be busier than many anticipated.
There is still a new for new housing. What has changed is that houses are in the form of multifamily and condos more than single family stand alone.
The other thing they I keep hearing is that roughly 1/3 of houses being bought are purchased for cash. NO MORTGAGE.
Which typically means they are trading a more expensive house for a less expensive house or the same price and their current house is paid off. They are not getting as 7% mortgage to buy the new residence.
lumber yards NOT mumber
Houses selling as fast as they go on the market here in metro Atlanta. Inventory is very limited.