Is The Rain Keeping The Housing Market Down?

It might just be that the weather this year is keeping the housing market from being hotter than it already is. It’s not just about whether you can apply a fresh coat before putting your house on the market — it’s about construction. As Sherwin-Williams announced weak earnings, the CEO explained that a lot of it has to do with the rain. With record rainfall in May, June, and July in many states, construction is lagging. As this blog reported, residential permits are up 25% year-over-year; however, actual residential starts are only up 5%. Maybe the market would be even hotter if it weren’t so damp.

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