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Housing Fundamentals

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Higher Mortgage Rates Have Caused Housing Starts to Slow Down

Housing Affordability Index & 30-Year Fixed Rate Mortgage

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1 | Source: Freddie Mac & National Association of Realtors.

There Has Been a Cumulative Underbuilding of U.S. Homes in the Last Decade

Cumulative Underbuilding of U.S. Homes in Last Decade

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1 | Source: FEA.

Strong Millennial Demographic Tailwind

U.S. Population Distribution by Age 2008 vs 2023

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1 | Source: FEA Data Center.

U.S. Housing Stock Has Aged Considerably

Median Age of Owner-Occupied Housing

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1 | Source: FEA/NAHB/Census Bureau.

Growing Residential Improvement Spending Supports Lumber Demand

Residential Improvement Spend

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1 | Source: FEA.

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