Analysis of September 2020 Monthly Residential Construction
Single family housing is booming. Low mortgage rates have people extremely interested in buying homes however the supply is struggling to keep up with demand. This combined with a pandemic trend of home improvement has send the cost of lumber sky high hitting all-time highs in August and moderately reducing in price however still ~20% above this time last October. In April of this year building permits hit an all-time low with uncertainty abound. Since then permits have increased month over month with a 7.8% increase from August to September. Single family home starts have also seen this month over…