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Homebuilder Comments in April: “Demand is slowing", "Investors pulling back"

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by Calculated Risk on 5/09/2022 03:09:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Homebuilder Comments in April: “Demand is slowing”, “Investors pulling back”

A brief excerpt:

Read these comments. These are clear signs of a slowdown.

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

#Dallas builder: “Interest lists are shrinking or buyers are truly pausing.”

#SanAntonio builder: “Traffic has been cut in half since the hike in rates.”

#Raleigh builder: “Investor activity has slowed dramatically.”

Allentown builder: “Double hit of higher home prices and higher mortgage interest rates clearly has reduced the number of qualified buyers. Our waiting list is almost zero as of April 30th.”

#Philadelphia builder: “Between higher interest rates and higher sales prices, along with high gas prices and a volatile stock market, we’re seeing a pullback in our sales.”

#Tampa builder: “We’ve seen a significant shift in buyer behavior in the last 30 days. Florida was on fire and pricing has really come to a high point, and people are not willing to pay the prices anymore.”

#Indianapolis builder: “Traffic has significantly declined and people have paused on moving forward with purchases.”

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

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