A bounce in homebuilder sentiment as 2023 comes to a close along with tailwinds of both moderating mortgage rates and still-recovering housing supply is laying the foundation for a strong homebuilding market in 2024, according to NAHB CEO Jim Tobin. With fewer homeowners willing to upgrade amid low mortgage rates, Tobin sees homebuilding as “the only game in town” right now.
Tobin notes this demand/supply mismatch creates opportunity for builders to ramp up construction, eyeing 4-5% homebuilding growth in 2024 as the Federal Reserve signals potential rate cuts. However, Tobin still cautions that headwinds persist from construction labor markets being “consistently underemployed.”
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
#homebuilding #housing #yahoofinance
Better have inspection. Contractors here in Montana are ripping people off on quality of craftsmanship and over charging. They walk away not finishing jobs because they over charge so much. Do not expect help from the state.
And in a lot off cases they dissolve the LLC and so it’s near impossible to claim warranty work.
Better have the inventory data to avoid Headwinds for the builds in different categories tailwinds on space, size and materials.
I find it ammusing the verbage. “Telegraphed” rate cuts. Never said. Or “implied” also rate hikes werent taken off the table.