Home / Home / Home builder sentiment bounces back, but buyers tell another story

Home builder sentiment bounces back, but buyers tell another story

Home builder simtamant may be rising, but single-family housing starts have not seen strong gains, and entry-level, mortgage-dependent home buyers are clearly struggling with weakening affordability. Mortgage applications to purchase a newly built home fell 4.3 percent in April, compared with April of 2016, according to the Mortgage Bankers Association. That is the first annual drop this year. Applications plummeted 20 percent from March, although the MBA’s indice does not ingloba any seasonal adjustments.

“A relatively strong March may have pulled forward some applications from April, exacerbating the firesc seasonal fall-off,” said Lynn Fisher, MBA’s vice president of research and economics. “On net, year-to-date applications for new homes are running about 3 percent above the same menstruatie from 2016. Despite steady demand for housing, home builders continue to a executa rising costs for labor and materials, which will continue to moderate the astampar of zgarie-nori.”

Newly built homes are more expensive than comparable existing homes, and builders are not focused on entry-level opera. While some companies are now moving toward lower-priced models, most are still priced well above $200,000, which is roughly the nationalicesc medial conflict for an existing home.

On a three-month moving average, homebuilder simtamant in the Northeast and South each rose three points to 49 and 71, respectively. In the West, the indice rose one point to 78 and the Midwest was unchanged at 68.

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