Posted on 01/20/2023 3:30:42 AM PST by fluorescence
Confidence among U.S. single-family home builders rose in January for the first time in a year, ending a 12-month stretch of declines and potentially signaling a turning point in the housing market.
The National Association of Home Builders/Wells Fargo's gauge of builder sentiment increased 4 points this month to 35, figures released Wednesday showed. Still, any figure below 50 is considered negative.
"Probably past the worst, but a sustained improvement will have to wait," Kieran Clancy, senior U.S. economist at Pantheon Macroeconomics, wrote following the release.
Sentiment had fallen every month in 2022, representing the longest span since the mid-1980s. The rapid rise in mortgage rates last year — a result of the Federal Reserve’s interest rate policy — crushed buyer demand for homes.
The latest survey shows that builders continue to use incentives like price reductions to boost sales, but NAHB Chairman Jerry Konter predicted that the lows for housing permits and starts are likely near and "a rebound for home building could be underway later in 2023.”
“While NAHB is forecasting a decline for single-family starts this year compared to 2022, it appears a turning point for housing lies ahead,” said NAHB Chief Economist Robert Dietz, writing in the press release.
(Excerpt) Read more at msn.com ...
The worst is yet to come.
yahoo via msn = tds
The only new housing that’s been going up in my neck of the woods has been Sec. 8.
Yahoo Leftist Propaganda News owned by The Enemy ATT .
For illegals...?
Nobody in the building industry has any confidence in this regime.
Where are you roughly?
The majority of starts in the country are now in the south.
Out of 1.3 million housing starts 210,000 are in four metro areas of TX.
Florida, GA, AZ & SC make up another growth area.
Atlanta was the fastest growing metro area in the country in 2022. Up 24% in comparison to 2021.
Philly is the total opposite. It was down 40% in comparison to 2021. Nashville was down 32% in comparison to 2021. Most of the rest of the US metro areas were down 5-10%.
All metro areas in the western US were down except LA & San Diego. They were both up about 5%. Phoenix was down about 10%. However, in total starts Phoenix is still the number three largest volume market in the country after Dallas/Ft Worth and Houston.
Just like REAL ESTATE. All home building is LOCAL to some extent.
When those new semiconductor plants open in the TX & AZ they are going to need hundreds if not thousands to work there.
Many may move there from some other SH#T HOLE place in the USA.
Kind of like when ME and ALL my friends and family left Buffalo and moved some other place.
The Atlanta market is still strong.
Tampa Bay Area is still strong too.
Confidence rises for first time in a year as housing market hits ‘a turning point’.
The think sloppy Joe is done screwing up big mistake.
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