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Brick Wall

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Sno White

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Spike Spiegel

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Fourth straight month of decline for builder sentiment as higher construction costs and interest rates reduce housing affordability: https://eyeonhousing.org/2022/04/housing-market-at-inflection-point-as-builder-confidence-continues-to-fall/

Home builder confidence dropped two points to 77 in April in the NAHB/@WellsFargo Housing Market Index (#HMI). This is the fourth straight month that builder sentiment has declined. Higher interest rates and supply chain issues are taking a toll http://ow.ly/AG0r50ILBpS #economics

Banks are scaling back their mortgage forecasts as rapidly rising rates make it more expensive to buy a home. The Mortgage Bankers Association expects mortgage originations, including refinances, to total $2.58 trillion in 2022, a 35.5% decline from 2021. https://www.cnbc.com/2022/04/13/mortgage-forecast-lowered-as-rates-soar-refinancing-falls.html

NAHB CEO Jerry Howard was on @TeamCavuto on @FoxBusiness today discussing some warning signs for the home building industry, #realestate market, and broader economy with soaring housing prices and rising interest rates. https://video.foxbusiness.com/v/6301864412001#sp=show-clips | #economics

NAHB applauds @WhiteHouse and @CommerceGov for reaching an agreement with the UK to end #steel and aluminum #tariffs. Now we urge the same action on #lumber tariffs through a new agreement with Canada. #HousingAffordability #economics

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