Business

Wedding Season Is Bullish for This Sector

Of the closetA weekly publication on Wall Street known for its rich data and crowded articles, he wrote about weddings in a recent issue.

Specifically, it is I mentioned:

This year will be the banner year for weddings, with about 25% more couples saying “I do” in the US than usual, according to industry estimates. For businesses, the boom is a necessary second wind after two years of epidemic-related restrictions and delays. Place, booked months or even years in advance.

This is welcome news for the wedding business.

The figures were biased by the plague, but marriages invoice To an estimated revenue of $ 60 billion each year. The wedding business that has survived the past two years may return to where it was in 2019 after this season.

But the biggest winner from this upheaval could be the housing market. Many newlyweds buy a home before or after the big day.

Or at least they’re trying …

Newlyweds face a tight housing market

Supply chain problems have wreaked havoc in the construction industry. Builder inventory reflects the rapid changes in supply.

House supply rose

The supply of new homes is able to meet the demand of nine months, according to the latest data. This is a sharp increase compared to the supply of 3.3 months after the economic shutdown ended less than two years ago.

But all the weddings at the doorstep indicate an increase in buying. It should absorb the available supply and keep demand high at least for the next few months.

The Bottom Line: A crowded wedding season is a sign that life is back to normal.

Unfortunately, e economy Far from normal. New families will face challenges in finding affordable homes, but the housing market needs to stay strong while looking for homes.

It is beneficial to existing homeowners, just like almost every factor that has affected housing over the past few years. Until the supply expands, this trend is expected to continue.

post Scriptum The housing market looks bullish as supply remains tight.

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