Homebuilder Comments in February: “Demand is still high"

Today, in the Calculated Risk Real Estate Newsletter: Homebuilder Comments in February: “Demand is still high"

A brief excerpt:

Some homebuilder comments courtesy of Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting (a must follow for housing on twitter!):

Here is Rick’s summary of builder comments for various markets (emphasis added in bold):

Homebuilder survey results are in for February. Top themes: 1) Record high new home price increases at +20% YOY nationally. 2) Record low builder finished inventory. 3) Demand still off the charts & quality of home buyer prospect lists still solid. Market commentary to follow ...

#Charlotte builder: “We’ve stopped selling homes in the majority of our communities due to supply chain & labor delays. We release homes for sale once they get to drywall stage. This will throw off our community counts & sales numbers."

#Boston builder: “We continue to limit lot releases, even sold our models. Our agents are not holding open houses nor advertising. Lots are reserved within days of release.”

#Nashville builder: “Market is still extremely strong even with rates moving up. Still a large shortage of homes on the market.”

#Dallas builder: “We’re limiting sales to spec inventory in order to limit inflation risk.”

#Austin builder: “Traditional detached sales (entry level and move-up) continued to be very strong in February."

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/