The Housing Market Is Approaching Its Slow Season. Why Home Builder Stocks Might Not Be.

Home sales look set to end the typically-hot summer season on a muted note as mortgage rates hover above 7%. But the new home market—and home builder stocks—could just be getting started.

August data from the Mortgage Bankers Association, meanwhile, suggest that home purchase demand remained low overall last month. Newsletter Sign-up While the existing-homes market—which generally comprises the bulk of all home sales—remains challenged, it’s a different story in new construction. Builders this year have benefited from the housing market’s short supply, data suggest: New home sales, a government measure based on contract signings, increased in July to the highest seasonally-adjusted level since February 2022.

“There’s nothing from the public builders that they’ve said publicly that makes me think that August is unusually weak,” Reichardt says.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing market: Utah's latest home prices and where they're headedUtah's housing prices are still lower than they were this time last year, but they've been on a slow incline since they appeared to bottom in January.
Source: KSLcom - 🏆 549. / 51 Read more »

Mortgage rate update amid housing market uncertaintyThe most popular home loan in the U.S., the 30-year fixed-rate mortgage, has dropped for the first time in five weeks. But mortgages remain higher than 2022.
Source: Newsweek - 🏆 468. / 52 Read more »

Elizabeth Taylor’s former Palm Springs home on the market for nearly $5 millionThe four-bedroom, five-bathroom Palm Springs home once owned by movie star Elizabeth Taylor with views of the San Jacinto mountains is on the market for $4,950,000.
Source: FoxBusiness - 🏆 458. / 53 Read more »