Latest housing starts data is good for mortgage rates
Typically, good economic data is bad for mortgage rates, especially in this environment. But added supply is a positive.
home builder confidence
Pending home sales rise for the first time since May 2022
Contract signings rose 2.5% nationwide in December, the first gain in six months, but pending home sales are 33.8% lower than a year ago.
Buyer Demand Shores Up Builder Confidence
Posted To: MND NewsWire
After dropping from record high levels by a total of 7 points over the last two months, the index that measures home builder confidence has stabilized. The Housing Market Index (HMI), produced by the National Association of Home Builders (NAHB) and Wells Fargo, rose 1 point in February to 84. “Demand conditions remain solid due to demographics, low mortgage rates and the suburban shift to lower cost markets, but we expect to see some cooling in growth rates for residential construction in 2021 due to cost factors, supply chain issues and regulatory risks,” said NAHB Chief Economist Robert Dietz. “Some builders are at capacity and may not be able to expand production due to these headwinds .” “Lumber prices have been steadily rising this year and hit a record high in mid-February, adding thousands…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Home Builder Confidence Improves, but High Construction Costs Remain a Concern
Builders are seeing improved foot traffic from home buyers, which is offsetting their concerns about the rising cost of construction materials.
The post Home Builder Confidence Improves, but High Construction Costs Remain a Concern appeared first on Real Estate News & Insights | realtor.com®.
Home-Builder Confidence Slips From Record High in December, as Buyers Get Cold Feet
The housing market remains hot, but the outlook for the year ahead has become murkier as COVID-19 vaccines roll out.
The post Home-Builder Confidence Slips From Record High in December, as Buyers Get Cold Feet appeared first on Real Estate News & Insights | realtor.com®.
Home Builder Confidence Surges to New Record High as Sales Volume Grows
The construction industryâs outlook improved again in November, according to research from a trade group released Monday.
The post Home Builder Confidence Surges to New Record High as Sales Volume Grows appeared first on Real Estate News & Insights | realtor.com®.