Real Estate

Azek raises outlook on hopes of continued housing, remodeling boom

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Building materials company Azek reported double-digit revenue growth in its latest quarterly report as a red-hot housing market continues to spill over into the home remodeling industry.

The demand, driven by a combination of low mortgage rates, low home supply and increased relocation activity amid the coronavirus pandemic, has Azek CEO Jesse Singh bullish about the long term.

“The focus on the house really gives us a long-term benefit because we really benefit from people investing in their homes,” he told CNBC’s Jim Cramer in an appearance on “Mad Money” on Friday.

Coronavirus lockdowns have spurred homebound consumers to spend more cash on remodeling their homes, including on decks and…



Source cnbc.com

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