US New Home Sales Plunge After Massive Downward Revision As Prices Soar (housing, builders)

[lluvia]

"the enthusiasm of homebuilders (near record highs) is mirrored almost perfectly by the total disdain of homebuyers (near record lows) as rates rising alongside home prices removes all but the wealthiest from the American Dream pipeline"

https://www.zerohedge.com/personal-f...th-prices-soar

[Gaylord_Focker]

The sales decline in April “is due to the lack of homes on the market,” Lawrence Yun, NAR’s chief economist, said on a call with reporters.

[mathjak107]

Don’t let facts ruin a great story line

[LynnKrause1]

Buyers will always buy and sellers will always sell. Price, location and terms wins every time.

[RationalExpectations]

Move along, everyone; nothing to see here.

[SusVelo]

Originally Posted by Gaylord_Focker

The sales decline in April “is due to the lack of homes on the market,” Lawrence Yun, NAR’s chief economist, said on a call with reporters.

Also builders are scaling back new home starts due to the cost of lumber.


https://www.barrons.com/articles/hou...ta-51621887536

The decline in new-home sales tracks with data released by the National Association of Home Builders earlier this month that showed a decline in housing starts. The trade group attributed that drop to the growing costs of materials such as lumber.

[HudsonCoNJ]

Look at who the author of that article is

[TimtheGuy]

Originally Posted by lluvia

"the enthusiasm of homebuilders (near record highs) is mirrored almost perfectly by the total disdain of homebuyers (near record lows) as rates rising alongside home prices removes all but the wealthiest from the American Dream pipeline"

https://www.zerohedge.com/personal-f...th-prices-soar

Garbage.

[TimtheGuy]

Originally Posted by HudsonCoNJ

Look at who the author of that article is

Ha, just saw the “Author”.

Wonder if the OP knows who that is.

[Gaylord_Focker]

Originally Posted by SusVelo

Also builders are scaling back new home starts due to the cost of lumber.


https://www.barrons.com/articles/hou...ta-51621887536

Yep, so it's not like there are few buyers. Sellers just can't keep up with demand, hence fewer buyers.