In December, the NAHB builder confidence rose to 37, exceeding estimates, with improvements in traffic index and sales expectations. The share of builders slashing prices remained at 36%. Builders in the Midwest and South saw the largest boost in sales conditions. Falling mortgage rates are expected to resuscitate the housing market. November saw a surge in new-home construction to a six-month high, with housing starts at 1.56M, surpassing expectations. Single-family units hit a peak, while building permits met forecasts at 1.46M but dipped 2.5% month-over-month. Experts anticipate rising permits buoyed by lower yields and increased builder confidence after the mortgage rate drop. Existing home sales unexpectedly rose in November, but further gains could be limited by a chronic shortage of houses on the market.
U.S EXISTING HOME SALES (MOM) (NOV) ACTUAL: 0.8% VS -4.1% PREVIOUS U.S EXISTING HOME SALES (NOV) ACTUAL: 3.82M VS 3.79M PREVIOUS; EST 3.78M
US Existing Home Sales Unexpectedly Limp Higher In Nov, Off Record Lows https://t.co/Iyr9H0EKAf
Sales of previously owned US homes unexpectedly rose in November, led by a pickup in the South and representing a respite in a two-year downturn https://t.co/cUXX9uK80d
Home Sales Unexpectedly Rise in November. That Ends a 13-Year Low. https://t.co/y19yue6j8x
Total existing-home sales elevated 0.8% from October to a seasonally adjusted annual rate of 3.82 million in November. #NAREHS https://t.co/zK2giSIVYr
⚠️ US EXISTING HOME SALES UNEXPECTEDLY RISE IN NOVEMBER U.S. existing home sales unexpectedly rose in November, but further gains as mortgage rates retreat from 23-year highs could be limited by a chronic shortage of houses on the market. Existing home sales increased 0.8%… https://t.co/Aa4n3KtnbY
US EXISTING HOME SALES CHANGE ACTUAL 0.8% (FORECAST -0.4%, PREVIOUS -4.1%)
US EXISTING HOME SALES ACTUAL 3.82M (FORECAST 3.78M, PREVIOUS 3.79M)
🔸 U.S EXISTING HOME SALES (MOM) (NOV) ACTUAL: 0.8% VS -4.1% PREVIOUS 🔸 U.S EXISTING HOME SALES (NOV) ACTUAL: 3.82M VS 3.79M PREVIOUS; EST 3.78M 🔸 U.S CB CONSUMER CONFIDENCE (DEC) ACTUAL: 110.7 VS 102.0 PREVIOUS; EST 103.8
Housing starts in the US were expected to decline by 0.2% last month. Instead, they skyrocketed by 14.8% to their highest level since May 2022. In single family homes, housing starts jumped by a massive 18.0% last month. Still, this data does not reflect the drop in mortgage… https://t.co/IcmDMK6gPu
Mortgage rates set to plunge after better than expected fall in inflation https://t.co/bAMa23yetR #mortgage #inflation
Housing market gets positive sign https://t.co/MVeZufu5Dn
The Census Bureau says U.S. companies broke ground on a surprisingly high number of houses in November. https://t.co/1zNWDsJrOX
New-home construction surged in November as the nation continues to grapple with a housing shortage. https://t.co/jBbHNSx9Yu
Housing starts crushed estimates today as single family starts soared 18% MoM. While single family permits are up 23% YoY, multifamily is down 20% YoY. Read more in tonight's Closer: https://t.co/3vafp7M4Ot https://t.co/JallaFPOgs
Housing starts unexpectedly surge in November as mortgage rates fall (Fox Business) Housing starts surged 14.8% last month to an annual rate of 1.56 million units, the highest level since May, according to new Commerce Department data released Tuesday. That is well above… https://t.co/YdLviB8E3O
“We’re predicting a 4% or 5% increase in home construction next year and that is largely due to what we believe will be continuing falling [interest] rates," NAHB CEO Jim Tobin says. "We’re really looking to accelerate into the second half of 2024 with home construction.” https://t.co/aX3Cqrtl1f
Mortgage Rates Could Soon Drop to 6.5%. The Bond Rally Helps. https://t.co/VbzNs8sF0w
A pleasant surprise this morning as housing starts rose 4% in November. We like to see new homes coming to the market! 🏡. Builder confidence improved 3 points and buyer traffic in new homes has recently increased! In addition to this good news, a Fed representative publicly… https://t.co/NL10XHcBke
Home building surges in good sign for the housing market https://t.co/uymCBYyIxj
Data released Tuesday revealed a far more robust market for new homes than anticipated. https://t.co/3svf9N18dy
It's getting easier to buy a house as new-home construction sees a surprising jump https://t.co/cLu1ca4ApA
Construction of new homes surges to a six month high, jumping almost 15% in November.
New Home Construction Unexpectedly Rises To 6-Month High As Slipping Mortgage Rates Boost Housing Market https://t.co/xA2RsRcbvW https://t.co/TGOFUHAPO5
"Residential starts increased 14.8% last mo to a 1.56M annualized rate. The med. forecast in a survey of economists called for a 1.36M pace. Construction of SF houses jumped 18% to the highest level since April '22, while starts of MF projects increased 6.9%." up, up, up $BXC
Mortgage rates will fall to 6% by the end of 2024, but home-buying sentiment will remain subdued, per MW.
Dec housing starts surpass expectations at 1.56M, a 14.8% rise from Oct. Single-family units hit '22 peak. Building permits meet forecasts at 1.46M but dip 2.5% m/m. Economists see permits rising, buoyed by lower yields and increased builder confidence after mortgage rate drop. https://t.co/OxqnIDG4cN
HUGE unexpected jump in housing starts reported today Supply is coming Will the demand be there, and at what mortgage rate and price point? https://t.co/XUZEYJvSWi
US new-home construction unexpectedly surged in November to a six-month high https://t.co/2JGFL4qwNe
Single Family Starts Increase Sharply in November, Near Record Number of Multi-Family Housing Units Under Construction https://t.co/Wal3ixIRYV https://t.co/PARCO7BnfA
November housing starts (blue) +14.8% m/m vs. -0.9% est. & +0.2% prior (rev down from +1.9%); building permits (orange) -2.5% vs. -2.2% est. & +1.8% prior (rev up from +1.1%) https://t.co/Yeo9jYR5MD
Holy housing starts Batman. I told you all housing would moon with some interest rate relief. https://t.co/D3SZp20irv
US new-home construction unexpectedly surged in November to a six-month high https://t.co/WR0DINdLoP
US #housing starts just came 15% higher than economists thought. Dont say there was no sign. 🇺🇸 #homebuilders net orders on single-units led the way. You're welcome 😇 https://t.co/1tbJtWNPvr https://t.co/JnnOgBRTSs
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1.56 million, above consensus expectations of 1.36 million. This is 14.8 percent above the revised October estimate of 1.359 million, and is 9.3 percent above the November 2022 rate of 1.427… https://t.co/2HCvnnTyvN
⚠️BREAKING: *U.S. NOVEMBER BUILDING PERMITS FALL -2.5% TO 1.460M; EST. 1.470M; PREV. 1.498M *HIGHEST SINCE AUGUST 2023 🇺🇸🇺🇸 https://t.co/C5sfSq4P6a
🔴US HOUSING STARTS NUMBER ACTUAL 1.56M (FORECAST 1.36M, PREVIOUS 1.372M)
🇺🇸 United States Housing Starts (Nov) $USD Actual: 1.560M 🟢 Expected: 1.360M Previous: 1.359M
🇺🇸 United States Building Permits (Nov) $USD Actual: 1.460M 🔴 Expected: 1.470M Previous: 1.498M
🔸US Nov Housing Starts +14.8% To 1.560M; Consensus -0.9% 🔸Building Permits -2.5% To 1.460M Rate In Nov
🔸U.S. November Housing Starts Due 8:30 a.m. ET; Seen -0.9%
🔸Redfin Home Price Index: November Marked Third Straight Month of Slowing Price Growth as Supply Crunch Eased U.S. home prices rose 0.6% from a month earlier, the smallest increase since June, as a jump in homes for sale gave buyers more options. That’s according to the Redfin…
Homebuilder sentiment improved for the first time in 5 months with the NAHB Housing Market Index rising to 37 (vs. 36 est) from 34. https://t.co/pFKkiAJX2c
'The housing market appears to have passed peak mortgage rates for this cycle and this should help to spur home buyer demand in the coming months.' - NAHB Chief Economist Robert Dietz https://t.co/blnSXA6Ks2
Mortgage rates are dropping. Here's what to expect in 2024 if you want to buy a home, experts say https://t.co/eRwbEgAWbo
Early read on the December new home market: lower interest rates compared to the past couple of months are spurring stronger-than-expected activity
New Construction Is a Housing Market Bright Spot. It Could Get Even Better for Builders. https://t.co/ixJf04K2dm
Online holiday sales in November grew 26.27% according to The NRF's Retail Monitor, and increased by 10.6% according to the Census Bureau. https://t.co/7scisdhAlw #ecommerce #onlinesales #holidays2023 #holidaysales @NRFnews
This is the latest sign that falling mortgage rates may resuscitate the housing market https://t.co/Uhu05zKbDx
🇺🇸🏠 The share of builders slashing prices in December remained unchanged at 36%, tying last month for the highest portion since November 2022. Builders based in the Midwest and South saw the largest boost in sales conditions on a monthly basis, both increasing by 4 points. https://t.co/0gN3wxxrzR
December's NAHB builder confidence rose to 37, exceeding estimates. Traffic index and sales expectations improved, sales conditions remained steady. NE region saw gains, amidst a housing shortage and 36% of builders reducing prices. Mortgage rate declines could boost activity. https://t.co/sIXCnqMkQh
30-year mortgage rates are now down to 6.62%. I’m a big believer in the power of psychological numbers, & I think if we get anywhere below 6% by this spring — even if it’s 5.99999% — it will really boost home sales.