Data from the National Association of Home Builders shows that both Builder Sentiment and Homebuyer Traffic have plummeted in recent months. Meanwhile, Housing Starts have also declined. This is a historical sign that the US Economy is tilting into Recession.
Jess Marshall Podcast: https://www.youtube.com/watch?v=y4mHY1-VtQQ&t=4s
Despite that, Homebuilders are still constructing a near record number of homes. 1.7 Million are actively under construction according to the US Census Bureau. And as these Homes get delivered there are issues cropping up. Like in Jacksonville where the homes aren’t fully finished when the homeowner moves in.
Jess Marshall, a local Home Builder in Dallas, explains that this is common and that homebuyers of Newly Built Homes should always get an inspection before moving in.
A likely issue is that Home Builders are contending with a combination of declining buyer demand to go along with high construction costs. This means that large Builder stocks such as DR Horton, Lennar, and KB Homes are likely to underperform in the future. And that the current Stock Market rally is unsustainable.
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