Home-builder confidence is positive for first time in 11 months
The numbers: For the first time in nearly a year, home builders are upbeat about the housing market outlook.With mortgage rates above 6%, many homeowners find little incentive to sell—nearly 92% have an outstanding mortgage with a rate below 6%, according to a recent survey conducted by Redfin RDFN, -0.37%, a brokerage and real estate listings company. And 23.5% of homeowners have a mortgage rate of less than 3%.
This is the sixth month in a row that sentiment has improved among builders. It is also the first time in 11 months that builder confidence has moved into positive territory of above 50.Key details: Builders were starting to pull back on sales incentives. The share of builders cutting prices to boost sales has dropped to 25% in June, from a peak of 36% in November 2022.The three gauges that underpin the overall builder-confidence index were up.
Builders seem to be one of the few participants who have benefited from the supply crunch, given the nature of their business of new construction. The homebuilder ETF, XHB, -0.38%, is up 25% year-to-date.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Southern National, formerly in Mobile, has a new home in AtlantaThe duo, who operated the restaurant in Mobile for more than four years, are set to open Southern National in a new location-- Atlanta’s Summerhill neighborhood. The restaurant will open on June 29, according to The Atlanta Journal-Constitution.
Leer más »
Marketer Trade Group Report Shows Ad Spending ‘Rife With Waste’At least 23% of the $88 billion spent annually by marketers on automated digital ad buying on the open web is a waste, according to a report from a trade group
Leer más »
Fred Gray set to receive American Bar Association’s highest honorMontgomery native Fred Gray was MLK Jr.'s 'chief counsel' during the Civil Rights Movement, worked on numerous civil rights cases, and was lead counsel for the victims of the Tuskegee Syphilis Study. The ABAesq will honor him with their highest award.
Leer más »
Zion National Park’s First Pride Was A Joyful Act Of ResistanceWe should *all* be able to find solace and inspiration in these protected lands.
Leer más »
Cruising into history: First city-sponsored lowrider event held in National City since 1992 ban repealedSaturday's event was the first of three city-funded cruises planned for this year; the next ones are scheduled at Kimball Park from noon to 4 p.m. on Aug. 12 and Sept. 9.
Leer más »