Spot The Difference: Housing Market Hope (Or Nope)
October 18, 2021 |Spot The Difference: Housing Market Hope (Or Nope)
Presented with little comment...
While homebuyers' confidence remains near its worst in 40 years, homebuilders' confidence just jerked higher, surprising to the upside:
Measure of present single family sales increased to 87 vs 82, highest since June
Future single family sales gauge rose to 84 vs 81, highest since December
Prospective buyers traffic measure rose to three-month high of 65 vs 61
One of these things is not like the other...
"Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labor shortages that are delaying completion times and putting upward pressure on building material and home prices," Chuck Fowke, chairman of the NAHB and a builder in Tampa, Florida, said in a statement.
We suspect affordability may just be the key problem here but Upton Sinclair is right again: "It is difficult to get a man to understand something when his salary depends upon his not understanding it."