Johnny Cope on housing market
From Single-family home construction has bottomed in current macro environment: Builders FirstSource CEO · · CNBC Television
“We're very optimistic single-family home construction has bottomed if you look at the current macro environment. If things change with the macro environment you have to reevaluate, but given the current macro environment and the ways that have proven to be successful for our customers to move homes, we're optimistic that the full-year single family will be down single digits to 2022, but much better than we expected coming into the year.”
On , Johnny Cope, President of Commercial Operations at Builders FirstSource, spoke about housing market during Single-family home construction has bottomed in current macro environment: Builders FirstSource CEO on CNBC Television.
About Johnny Cope
In a September 2023 interview, Builders FirstSource CEO Dave Rush stated that single-family home construction has "bottomed" in the current macro environment. He expressed optimism that full-year single-family activity would be down "single digits" compared to 2022, which he described as better than the company had expected. Rush attributed this outlook to builder strategies such as buying down mortgage rates and offering smaller homes, which he said have helped sustain demand. Rush noted that labor remains a challenge for both builders and his company. He said Builders FirstSource has invested over $100 million since 2021 in manufacturing operations to increase output per labor hour. He also stated that the company is focused on customer service and on-time delivery to help address affordability, and that its value-added prefabricated products are intended to reduce construction time and labor costs.