Builder confidence for single-family homes rises just one point, to 65, in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index.Lower mortgage rates should be helping with affordability, but apparently that's not enough.
"Builders report solid demand for single-family homes. However, they continue to grapple with labor shortages, a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes," said NAHB Chairman Greg Ugalde, a homebuilder and developer from Torrington, Connecticut.
The supply of homes for sale, which had been gaining, is now weakening again, and inventories could hit a new low in October, according to a recent report from realtor.com.
Monthly supply for the builders has been higher basically every month in this cycle compared to the previous one, and this has been the weakest new home sales demand curve ever with rates under 5% since early 2011 for the most part.
When was this taped? Isn't it past Kernen's bed time now?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. home builder sentiment inches up in July: NAHBA private gauge of U.S. home builder sentiment increased in July as falling mort... Stop building shitty houses with 10 inches between them, I take loud poops and my neighbors don't like hearing it while eating their breakfast. What is that? An oversized cracker box? (Pun intended.) No wonder so many homes get levelled by storm in America: they look to be made of cardboard.
Source: Reuters - 🏆 2. / 97 Read more »
Unlike previous coups, Turkey confronts July 15 plot along legal lines“In previous coups, the coup instigators also oversaw the trials. In this aspect, it is something new for us. It is very important for Turkey that they [the coup instigators] be tried,” Cavit Tatli, an experienced lawyer, said.
Source: trtworld - 🏆 101. / 63 Read more »
Madame Clairevoyant: Horoscopes for the Week of July 15Start your Monday by checking out your horoscope for the week
Source: NYMag - 🏆 111. / 63 Read more »
Braving bullets to resist Turkey's July 15 failed coupOne year after the attempt by a group of putschists to overthrow Turkey's democratically elected government, TRT World tells the story of five Turkish nationals who took to Istanbul's streets to protest. Not all of them survived.
Source: trtworld - 🏆 101. / 63 Read more »
The Best Beach-Worthy Books of July 2019Happy PrimeDayAmazon! Did you know you can score an extra $5 off print book purchases over $15 with the code PRIMEBOOK19?! GO, GO, GO! 📚 💓
Source: Cosmopolitan - 🏆 725. / 51 Read more »
Your Horoscopes — Week Of July 16, 2019All the latest entertainment coverage from The Onion, America's finest news source. How do you always know the answers? itsAezeph Hmm . . .
Source: TheOnion - 🏆 724. / 51 Read more »