Homebuilders
What features do homebuyers want in a new house?
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COVID-19 didn’t just change where people want to live, it
Home Buyers Frustrated by More Competitive Bidding
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Posted To: MND NewsWire

The quarterly Housing Trends Survey conducted by the National Association of Homebuilders found that 69 percent of those actively seeking to buy a home have spent as much as three months searching without success. Rose Quint, writing in NAHB's Eye on Housing blog, says that for the first time in the survey's history, the number one reason for the protracted timeframe wasn't because the potential buyers couldn't find an affordably priced home, although that was the reason cited by a third of them. Forty percent, however, said they continue to be outbid by other buyers. Quint said the responses in the Q4 2020 survey is a reversal of the those in a year earlier. In the fourth quarter of 2019, 44 percent said it was unaffordable prices holding back their purchase, only 19 percent cited better offers...(read more)

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Factors Driving The Housing Market Moving into 2021
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According to a study done by Eyul Tekin, “After adjusting for inflation over time the future of the American Dream seems rather gloomy. Median home prices inc
Pending home sales fall slightly in December
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The number of pending home sales fell slightly in December,
Pending Home Sales’ Recent Decline is Nothing Compared to Yearly Gains
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Posted To: MND NewsWire

Pending home sales retreated for the fourth straight month in December. The National Association of Realtors® (NAR) said its Pending Home Sales Index, which indicates contracts signed during the month to purchase single-family houses, townhomes, condos, and cooperative apartment. dipped 0.3 percent to 125.5. The decline was primarily due to fewer new contracts in the Midwest. Before the recent retreat started in September, pending home sales had put together four months of strong results resulting in the index reaching 132.8 in August. The December PHSI was 21.4 percent higher than its level in December 2019 and the highest ever recorded for a December as the seasonal dislocation of traditional home buying patterns continues. Analysts polled by Econoday were spot on with their December...(read more)

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Existing-home sales hit new record high in December
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The National Association of Realtors’ latest report on existing-home sales
Why are homebuilders losing confidence?
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With lumber prices surging to levels never seen before, builder
Construction Surges to Highest Levels in 15 Years
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Posted To: MND NewsWire

Residential construction finished out 2020 much more strongly than analysts had expected. The U.S. Census Bureau and Department of Housing and Urban Development reported significant increases in both residential permitting and housing starts in December , the second month in a row those numbers have grown. The numbers, however, took a hit in the Northeast. Permits for privately funded construction were issued at a seasonally adjusted annual rate of 1,709,000 units, an increase of 4.5 percent from the revised (from 1,639,000 units) rate of 1,635,000 in November. The pace of permitting in December was 17.3 percent higher than the 1,437,000 units estimated a year earlier. Econoday and Trading Economics had reported low expectations for December permits on the part of their analysts. The consensus...(read more)

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How Long Can The Good Times Last For Housing and Rates?
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While it wasn't quite the biggest surprise of 2020, the strength of the housing market was one of the best. The just-released numbers for December keep the good times rolling. Leading the charge was December's Existing Home Sales report from the National Association of Realtors (NAR). The annual pace wasn't quite at the recent 15-year high seen 2 months ago, but it hasn't really fallen since then. No complaints. If you want to see more 15-year records broken, you'll have to rely on The Census Bureau's New Residential Construction numbers. While not a direct measure of New Home Sales, the correlation is high (we'll get the official sales numbers next Thursday). For now, we can bask in the warm glow of another long-term high in Housing Starts. With sales and construction numbers like this, it
Housing starts rose to fastest pace since 2006 in December
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Home construction starts rose for a fourth-straight month in December to the best pace since late 2006 as builders responded to the robust demand for single-family housing.