Builder sentiment in the market for newly built homes rose in April for the fourth straight month, as the supply of existing homes for sale remains scarce.
The NAHB index rose two points to 44 in March, according to a Wednesday press release. The mild rise in homebuilder confidence exceeded economists’ expectations; a Wall Street Journal (WSJ) poll of economists believed the index would drop to 40. The NAHB’s March score is the highest reading since September 2022.
Newsfeed: Homebuilder Confidence Rises for Third Consecutive Month Read More »
The U.S. housing market is absolutely imploding, but nobody should be surprised. In fact, we were warned way ahead of time that this would happen. When the Federal Reserve told us that they would be aggressively raising interest rates, we all knew what this would do to the housing bubble. It was obvious that home prices would fall, home sales would plummet and home builders would get absolutely crushed. Sadly, that is precisely what we are witnessing. But instead of reversing course after witnessing all the damage that they have caused, Fed officials are insisting that even more rate hikes are necessary. So as bad as things are right now, the truth is that they are going to get even worse in the months ahead.
Rising mortgage rates have sidelined many would-be homebuyers, but for institutional investors, it has become an opportunity as home builders try to unload properties.
Newsfeed: Institutional investors ‘buying in bulk’ as homebuying cools Read More »
Mortgage rates jumped more than a quarter point this week and remain at the highest level in 14 years, offering no relief to sidelined homebuyers.
Newsfeed: Mortgage rates jump again, remain above 6% Read More »
More builders are lowering prices for homes as their confidence in the market continues to tumble. Homebuilder sentiment in September fell 3 points to 46 in the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.
Newsfeed: More homebuilders lower prices as sentiment falls for ninth straight month Read More »
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
Newsfeed: Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative Read More »