What do home builders think of the current market?

Home builders | mortgage rate news

Are Builders Cutting Prices?

The National Association of Home Builder’s index was released on Monday. The NAHB index measures the confidence levels of new home builders and provides insights into the new home market. Higher than previous mortgage rates, continued supply chain disruptions and elevated home prices are weighing on the minds of builders. The report predicted an ongoing decline in the volume of single-family housing project starts and indicated that home builders felt that the market would continue to soften with 24-percent claiming to have reduced home prices recently, and more than half stating that they used incentives to improve weakening sales.

Is it better to sell a house or rent it out?

Potential home sellers are wondering if it makes sense to list houses for sale or simply rent them out. With market conditions as they are, a lot of homeowners are looking to turn their existing homes into rental properties instead of listing them. Using a home as a rental property allows homeowners to continue to build equity while the renter pays off their mortgage. Given how high home rental prices are these days, renting instead of selling can be a viable option for some homeowners looking to upgrade. The only challenge here is that homeowners can’t use their equity as down payment for a new or better house.

What are the best American cities for home shoppers?

Realtor.com has updated its list of the best cities for home shoppers to buy in. The southeast region of the country dominated the list with four cities in the top 10, but Midland, Texas was the top-rated city for home buyers. Experts sited Midland’s lower than average home prices, good job market, and high volume of available homes for sale. The local oil and gas industries have been looking to add geologists, scientists, and engineers to their workforce, and Midland has been at the heart of their efforts. Cedar Rapids, Iowa and Detroit, Michigan were the only entries from the Midwest, while Western states were represented by Boise, Idaho and Reno, Nevada.

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