NAHB Housing Market Index Falls in September as Mortgage Rates Crush Buyers Confidence

NAHB housing market index fell for a second month to 45 in September 2023, the lowest in five months, from 50 in August and below forecasts of 50. July which was the highest reading at 56 in this cycle and was just second time that sentiment levels have surpassed the midpoint of 50 since July 2022. Mortage rates are over 7% (per Freddie Mac). Current single-family home sales fell to to 51 from 57 and prospective buyers dropped 5 points … Continue reading “NAHB Housing Market Index Falls in September as Mortgage Rates Crush Buyers Confidence”

NAHB Housing Market Index Falls in August After Seven Straight Rises

NAHB housing market index fell to 50 in August (consensus 56) from 56 in July which was the highest reading and second time that sentiment levels have surpassed the midpoint of 50 since July 2022. Mortage rates are nearing 7% (per Freddie Mac). Much chatter this morning has been about Berkshire Hathaway (Warren Buffett) disclosing new positions in Lennar (LEN), D.R. Horton (DHI), and NVR (NVR in their 13F filing last night. Accordingly, the miss comes at an interesting time. … Continue reading “NAHB Housing Market Index Falls in August After Seven Straight Rises”

NAHB Housing Market Index Rises in July for Seventh Straight Month

NAHB housing market index rose to 56 in July (consensus 56) from 55 in June and gave the highest reading and second time that sentiment levels have surpassed the midpoint of 50 since July 2022. December was the lowest level since mid-2012 with the exception of the spring of 2020.  Builder sentiment had declined every month in 2022. Inflation, though softer, is still striking out affordability for many. However, confidence is rising with a lack of resale inventory despite elevated … Continue reading “NAHB Housing Market Index Rises in July for Seventh Straight Month”

NAHB Housing Market Index Rises for Sixth Month in June Driven by Limited Supply

NAHB housing market index rose to 55 in June (consensus 51) from 45 in April and gave the highest reading and first time that sentiment levels have surpassed the midpoint of 50 since July 2022. December was the lowest level since mid-2012 with the exception of the spring of 2020.  Builder sentiment had declined every month in 2022. Inflation, though softer, is still striking out affordability for many. However, confidence is rising with a lack of resale inventory despite elevated … Continue reading “NAHB Housing Market Index Rises for Sixth Month in June Driven by Limited Supply”