Lumber prices
Even with high lumber prices, new home sales beat
Extreme increases in lumber prices have caused some people to go bearish on new home sales. Not this one! If we play a version of rock, paper, and scissors with lumber prices and mortgage rates, mortgage rates will win. Mortgage rates have a much more significant influence on the new home sales market than lumber prices, even at their current highs.
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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)
Is single family rental the new multifamily?
Single-family rental (SFR) developer AHV Communities has announced its largest development pipeline to date: 1,500 rental units and over $500 million in committed capital. While a casual observer might see this volume of business as a product of the surging popularity of the SFR market, AHV CEO Mark Wolf sees it as the natural progression … [Read more…]
New home sales historically high in 2020
Even with inventory at record-low numbers, December new home sales still came in 15.2% higher than the same period last year.
The post New home sales historically high in 2020 appeared first on HousingWire.
How one mortgage pro is preparing his clients for the Biden administration
As of noon EST yesterday, a new president has taken office. The leadup to his inauguration was filled with uncertainties, political and economic, and the mortgage industry saw the first material rise in interest rates in months. Now, mortgage pros have to face clients in a new political reality. For Dennis Viera (pictured), loan officer … [Read more…]
The Pros and Cons of Building vs. Buying as a First-time Homeowner
If you’re torn between buying or building a home, understanding what each option entails will help you make a more informed decision. Here are the pros and cons of each journey.
The post The Pros and Cons of Building vs. Buying as a First-time Homeowner appeared first on Homes.com.
Poisoned Just Enough: Why I’m so Optimistic About 2021
A close friend of mine was diagnosed with cancer this year. It was the serious kind, where you need to treat it quickly and aggressively or it will spread through your body, stick to all of your organs, and kill you. The diagnosis was a shock to my friend and her loved ones – sheâs […]
Rising costs, COVID cases dip builder confidence
Homebuilder confidence fell in January as builders expressed concerns about higher house prices, COVID-related supply chain issues and construction costs.
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