Housing costs are a key issue for many, with recent data from the National Association of Realtors (NAR) data showing that the market share of first-time homebuyers reached a historic low while the age and income of those who are buying homes rose. Trex (TREX) CEO Bryan Fairbanks sits down with Market Domination Overtime Hosts Julie Hyman and Josh Lipton to check in on how the housing market dynamics affect the renovation space and companies like the composite materials manufacturer.
"Any opportunity to increase the existing home sales is going to be a positive for repair and remodel. We see interest rates coming down to a certain degree, but hopefully, we’ll see some more rate cuts. Rates will fall further. More people will start moving out of their homes, moving into the new homes and generating more repair and remodel spend," Fairbanks tells Yahoo Finance.
Additional rate cuts will bring down mortgage rates and make it "easier for the average consumer … We feel as though that will be a tailwind."
Watch the video above for more of Trex’s position and the CEO’s expectations for what’s next.
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