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Home Builder Sentiment Rises as Existing Home Inventory Falls

Pro Builder

Builders said one-third of housing inventory is new construction, compared with historical norms of around 10%. Concerns had grown that builders might have more trouble with construction loans after recent regional bank failures. But the bevy of new construction suggests that is not the case.

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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. Bank of America predicts that home prices across the U.S. While climbing mortgage rates could pour some cold water on the housing market over the long term, Bank of America says it could increase buyer urgency—as they rush to lock in rates—in the short term.

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

Pro Builder

The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted," [Marina] Walsh said. The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage.

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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. Mon, 12/13/2021 - 09:49. A look into his crystal ball.

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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. decline in home prices for 2023. Read more Housing Markets Market Data + Trends Housing Markets

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

Pro Builder

Though many homebuying challenges remain amid mortgage rate volatility, falling for-sale inventory, and recent bank failures, many regional markets are seeing a promising influx of spring buyers. rise in home prices from January to February and a 4.4% annual increase in U.S. home prices.

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Navistar Financial Extends Dealer Inventory Funding Facility

Construction Equipment

has signed agreements to extend its $500 million dealer inventory funding facility an additional six months. The facility, which is funded through three of NFC''s major relationship banks, now extends through September of 2014.' Navistar Financial Corporation (NFC), an affiliate of Navistar Inc.,