Homebuilder Confidence Rises to a Six-Month High, NAHB Survey Finds
Homebuilder confidence rose in November, the third consecutive month of gains, despite supply-chain bottlenecks that slowed deliveries.
November 16, 2021 2 MIN
Homebuilder confidence rose in November, the third consecutive month of gains, despite supply-chain bottlenecks that slowed deliveries.
The top reason to move, according to sellers, was the desire to be close to friends and family. The No. 2 reason was the need for more space, according to the NAR report.
Record gains in home prices and a shortage of properties for sale have given sellers the most confidence they’ve ever had, according to a report from Fannie Mae.
A third of real estate listings were under contract within seven days, rising from a month earlier during a time when home sales typically slow.
Sales of new homes are on track to jump 15% next year as builders overcome supply-chain challenges, NAR said in a forecast.
The average mortgage size for new homes rose to a record high of $408,522, a gain of 15% from a year ago, according to MBA’s Builder Application Survey.
It’s half the size of President Joe Biden’s original bill, but it still includes homebuyer assistance and a rescue of the nation’s flood insurance program.
U.S. pending home sales dipped in September as supply-chain bottlenecks kept new houses from coming on the market.
U.S. home prices gained 18.5% in August from a year earlier, slowing from July’s record pace of 19.2%, as rising mortgage rates crimped the ability of buyers to engage in bidding wars.
New-home sales surges in September and the median U.S. price rose to a record as house-shoppers rushed to take advantage of low mortgage rates.
