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Home Builder Sentiment Rises as Existing Home Inventory Falls

Pro Builder

The National Association of Home Builders/Wells Fargo Housing Market Index rose one point to 45 in April, and although anything below 50 is considered negative, the latest reading is the highest since September, CNBC reports. Builders said one-third of housing inventory is new construction, compared with historical norms of around 10%.

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Home Prices Could Continue to Rise Into 2023, Says Bank of America

Pro Builder

Home Prices Could Continue to Rise Into 2023, Says Bank of America. The Federal Reserve is preparing to increase mortgage rates to tame elevated inflation, but higher rates still won’t be enough to stop another year of strong price growth in the housing market, Fortune says. Bank of America predicts that home prices across the U.S.

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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage.

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Has the Housing Market Bottomed Out? Prices Rise for First Time in 7 Months

Pro Builder

Has the Housing Market Bottomed Out? Prices Rise for First Time in 7 Months ldeakins Wed, 04/12/2023 - 11:40 After months of price corrections in the nation's most popular housing markets, U.S. rise in home prices from January to February and a 4.4% annual increase in U.S. home prices. annual increase in U.S. home prices.

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How Land Banking Could Help Builders Battling Shortages

Pro Builder

How Land Banking Could Help Builders Battling Shortages. Land banking offers a potential solution for builders to generate strategic capital and minimize the risks associated with land ownership in the midst of national shortages, according to John Burns Real Estate Consulting. COVID-19 has fundamentally changed the housing industry.

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How Biden Plans to Address Housing Affordability

Pro Builder

How Biden Plans to Address Housing Affordability. Joe Biden has big plans for the housing market, and especially for housing affordability. CNBC says Biden’s housing plan could relieve buyers by easing the pressure on home prices and supply. Housing Policy + Finance. cbroderick. Wed, 01/20/2021 - 10:04.

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These Oversupplied Metros Could See Major Price Drops by Late 2024

Pro Builder

Formerly red-hot housing markets such as Seattle, Phoenix, San Francisco, and Austin, Texas, have seen substantial increases in inventory, and as a result, each metro is expected to see a double-digit price correction by late 2024. Read more Housing Markets Market Data + Trends Housing Markets

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