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Home Builder Confidence Drops to 74%- Time To Panic?

by Feb 24, 2020Real Estate Realities Podcast0 comments

Written by Robert Whitelaw, Realtor®/Broker/Owner

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate from Palo Alto to Gilroy and Los Gatos - and beyond! Robert rates his success on providing the highest level of value to his clients.

February 24, 2020

The Home Builder Survey Is One Of The Least Reliable Around!

When it comes to new home construction, we need to learn that actions speak louder than words!

home builder confidence has droppedThis week we will be taking a look at one of the most reviewed surveys in the world of real estate. That is the National Association of Home Builders (NAHB) confidence numbers. Every month, those who watch the real estate market seem to hang on the results of this survey. However, for those that have been listening to my show, they know that while it might be interesting to know what the builders of future homes may say, it is almost always very different from what they are actually doing.

Over the years, we have seen confidence numbers that would indicate they are going to start building like crazy, only to see no new construction get started. So what do we do with these numbers if we are trying to anticipate how much new home construction is actually going to happen in the upcoming season? In todays show, we will review this new data and also look at other things going on to try and get a more realistic view of what to expect from new home construction in the coming season. Will we see more single family residential homes built? Does this mean more opportunities for buyers, sellers and investors?

We are also going to take a look at some of the most recent real estate market data for areas like Sacramento and Phoenix. Do these most recent numbers suggest that we will see home prices increase or decrease? Of course, so much of the market comes down to supply and demand and in many areas, what we see is a trend toward lower inventory but increased demand. Even in those areas, we do see pockets of opportunity for buyers, so we will discuss strategies for enhancing your home search or perhaps help you better plan the sale of your home for maximum return!

Links:

  • https://www.calculatedriskblog.com/2020/02/nahb-builder-confidence-decreased-to-74.html
  • https://www.calculatedriskblog.com/2020/02/sacramento-housing-in-january-sales-up.html
  • https://www.calculatedriskblog.com/2020/02/car-on-california-january-housing-sales.html
  • https://www.car.org/en/aboutus/mediacenter/newsreleases/2020releases/january2020sales
  • https://www.calculatedriskblog.com/2020/02/phoenix-real-estate-in-january-sales-up.html
  • https://www.bloomberg.com/news/articles/2020-02-19/u-s-housing-starts-fall-from-13-year-high-while-permits-surge

 


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