New computer modeling technology helped make the case.
Here’s how home builders in Texas, Georgia and Michigan feel about where the housing market is headed.
Zillow reports new listings in August fell 7.3% from July, though total inventory is still up year-over-year.
The Texas suburbs have been a major driver of home building, but new housing construction in the state has slowed and single-family housing permits are down 8%.
Builders are mostly working on apartments and condos, and are still waiting to commit to more residential construction.
A 50% import duty on steel imports is raising material costs for fire-resistant house framing.
High home prices and mortgage rates are joined by plenty of economic uncertainty.
Would-be buyers are worried about inflation — and watching their 401(k)s dwindle.
They’re expecting to pay less interest on loans to build houses — and their clients are anticipating lower mortgage rates.
Builder incentives like interest-rate buy-downs and the relative affordability of the area are big draws for prospective buyers.
