For the 5th month in a row, homebuilder hope has missed expectations. At 45 (vs 49 expectations), this is the lowest the NAHB survey has been at since May 2013, catching down to the reality of home sales and mortgage applications. On the bright side, realtors can't help but feel thr turn is coming sometime soon - the "future" hope index rose to its highest since January as the "current" reality index drops to 12 month lows.
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2 comments:
And meanwhile Fox Business is reporting housing starts up sharply, permits highest since 2008. Go figure...
Why would anyone buy a lot, pay impact and permit fees, drill a well, install a septic tank, build and landscape a 1200 sf house with attached garage for $200k, when already built same house, same lot is going for half of that?
Only if they are the top 1%, that's who.
Everybody else has common sense, hence the numbers.
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