It's not unusual when you first start to see the beginnings of a rate increase, that the immediate effect is an acceleration of sales as people try to lock in the lower rates,
It's going to divert some key materials. It's going to have an effect on building elsewhere. A lot of the areas that were hit are areas that produce wood products.
I don't want to overstate it but this is such a huge event it's bound to have a big effect on many construction materials and other construction costs. This is 10 times worse than Hurricane Andrew, when 28,000 homes were destroyed.