The production index for sawmills and wood preservation industries fell 4.3% in the Q1 2024, after also falling 4.3% during the previous quarter. Compared to a year ago, production was 3.8% lower at the start of 2024.
National Association of Home Builders
The builders are concerned about the current high interest rate environment. An improving interest rate environment will help buyers as well as builders and developers who are contending with tight lending conditions and high interest rates.
Builder sentiment was flat in April as mortgage rates remained close to 7% over the past month and the latest inflation data failed to show improvement during the Q1 2024.