Magical Trade
Sunday, October 1, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Homebuilder confidence surges past expectations, as buyer demand remains high

by
November 16, 2021
in Trade News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Analysts Say These 2 Stocks Are Their Top Picks for the Rest of 2023

Is TradingView The Best Automated Trading Software? The Ultimate Analysis Guide

Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, May 5, 2021.

Octavio Jones | Reuters

Higher prices and longer wait times do not appear to be turning buyers away from the nation’s homebuilders. With demand still surging, homebuilder confidence in the market for single-family homes rose more than expected in November, to the highest level since last May.

Confidence rose 3 points to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive. Analyst expectations had been for it to remain unchanged at 80. Sentiment stood at 90 in November 2020.

“The solid market for home building continued in November despite ongoing supply-side challenges,” said NAHB Chairman Chuck Fowke, a homebuilder from Tampa, Florida. “Lack of resale inventory combined with strong consumer demand continues to boost single-family home building.”

Of the index’s three components, current sales conditions rose 3 points to 89. Buyer traffic also increased 3 points to 68. Sales expectations in the next six months were unchanged at 84.

While buyers are plentiful, most of the components that go into building a home are not. That has led some builders, like the nation’s largest, DR Horton, to slow sales in order to make sure they can deliver on time.

Company Chairman, Donald Horton, noted in the company’s most recent quarterly earnings release, “We continued intentionally restricting our home sales pace by selling homes later in the construction cycle to align with our production levels and better ensure the certainty of home close dates for our homebuyers.”

Not only are builders still experiencing supply chain disruptions and a massive labor shortage, they also can’t find enough land on which to build.

“Lot availability is at multi-decade lows and the construction industry currently has more than 330,000 open positions,” said NAHB Chief Economist Robert Dietz, who called on policymakers to focus on resolving these issues.

Regionally, on a 3-month moving average for HMI scores, sentiment in both the Midwest and South rose 4 points to 72 and 84 respectively. In the West it rose one point to 84 and in the Northeast fell two points to 70.

ShareTweetPin

Related Posts

Analysts Say These 2 Stocks Are Their Top Picks for the Rest of 2023

by
October 1, 2023
0

Is TradingView The Best Automated Trading Software? The Ultimate Analysis Guide

by
October 1, 2023
0

Is StreetBeat The Best Automated Trading Software? Insights from Everyday Traders

by
October 1, 2023
0

Is SoFi Invest The Best Automated Trading Software? Unraveling the Truth

by
September 30, 2023
0

Is 1000pip Climber System The Best Forex Signals Provider? A Comprehensive Review

by
September 30, 2023
0

Next Post

3 Stocks to Buy November 2021 for the Coming Consumer Cash Frenzy

WHO says delta variant accounts for 99% of Covid cases around the world

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Interactive Brokers’ Thomas Peterffy sees the stock market dropping another 15% from here

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net