The latest evidence that Fed Chair Jerome Powell’s most aggressive interest rate hikes in a generation and spiking mortgage rates might trigger a housing “reset” is the latest earnings report from KB Home, one of the nation’s largest publicly traded homebuilders.
Newsfeed: Buyer Cancellation Rate At Top US Homebuilder Surpasses 2008 Levels Read More »
After the dismal homebuilder sentiment data earlier in the week, it is no surprise that analysts expected a drop in both housing starts and building permits for November (the latest data) and they were right.
Newsfeed: US Building Permits Collapse In November, Multi-Family Plans Plunge Read More »
It appears homebuilders are really starting to wake up to what Fed Chair Powell has been preaching as NAHB sentiment tumbled to the lowest level since June 2012 excluding the onset of the Covid-19 lockdowns.
Newsfeed: Homebuilder Sentiment Slumps To Decade Lows, Longest Losing Streak On Record Read More »
With homebuilder sentiment collapsing, it should be no surprise that analysts expected housing starts and permits to tumble in October, and they were right with starts dropping 4.2% MoM and permits down 2.4% MoM…
Newsfeed: US Single-Family Housing Permits Plunge To COVID Crisis Lows, Starts Slump Read More »
It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in November after refusing to see what everyone else was seeing more months…
After the collapse in housing starts data (and mortgage applications and homebuyer confidence and homebuilder sentiment), it should be no surprise that analysts expected existing home sales to continue their streak of declines in September.
Newsfeed: US Existing Home Sales Crash To 8 Year Lows Read More »
It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in October after refusing to see what everyone else was seeing more months.. and what homebuyers were clearly feeling as prices soared along with mortgage rates and devastated affordability for most Americans. Against expectations of a small drop from 46 in September to 43 in October, the headline confidence index crashed to 38 – its lowest since the nadir of COVID-lockdown panic (that was worse than the weakest forecast of all economists surveyed)…
Today we get our first glimpse of the carnage in the housing market from August. With mortgage rates having soared and homebuilder sentiment tumbling (and permits plunging), it should be no surprise that existing home sales were expected to fall for the 7th straight month (-2.3% MoM vs -5.9% MoM in July).
Newsfeed: US Existing Home Sales Sink For 7th Straight Month Read More »
Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.”
The number of houses sitting on the market grew at a blistering pace last month, with the number of active listings jumping 31% vs. the same period last year – a record-high increase for a third straight month, Bloomberg reports, citing a Tuesday report from Realtor.com.