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Supply chain issues still stymieing homebuilders

Housing Wire

Homebuilder confidence in single-family homes jumped one point to 84 in February from 83 in January , according to the National Association of Home Builders and Wells Fargo Housing Market Index. Strong buyer demand in February helped offset supply chain challenges and a surge in lumber prices, according to Chuck Fowke, NAHB chairman.

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Fewer housing permits equate to further inventory, affordability challenges

Housing Wire

Fewer homes under construction and falling permits mean dwindling options for future buyers, adding more pressure to a market already strained by tight supply,” Point2 said. However, with supply chain issues piling up and loan rates for builders continuing to rise, developers’ confidence is going in the opposite direction.

Inventory 385
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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

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Dearth of new construction strains migration hotspot of Alabama

Housing Wire

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. Lower rates are likely to make homeownership accessible to more buyers and it should prompt some potential sellers who are locked in at a rate of 3% or less to list. As of Feb.

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% The supply of homes for sale fell to a record low, down 16.5% months of supply; a healthy market generally has between four and six months of supply. from the prior month to a seasonally adjusted annual rate of 6.5

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Logan Mohtashami on why this is a savagely unhealthy housing market

Housing Wire

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. Inventory has been falling for years.

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Rising costs, COVID cases dip builder confidence

Housing Wire

fell to a four-month low in January as builders expressed concerns about higher house prices, COVID-related supply chain issues and construction costs. Builder confidence in single-family homes dropped to 83 in January from 86 in December, according to the National Association of Home Builders and Wells Fargo Housing Market Index.