Confidence among U.S. single-family home builders rose in January for the first time in a year, ending a 12-month stretch of declines and potentially signaling a turning point in the housing market. The National Association of Home Builders/Wells Fargo’s gauge of builder sentiment increased 4 points this month to 35, figures released Wednesday showed. Still, any figure below 50 is considered negative. “Probably past the worst, but a sustained improvement will have to wait,” Kieran Clancy,… Source link
Read More »Here’s another red flag for housing from the largest home builder
The largest U.S. homebuilder offered up the latest examples of how quickly buyers are fleeing the housing market. Buyers canceled nearly a third of deals in D.R. Horton Inc.’s (DHI) fiscal fourth quarter, up from 19% a year ago, the Texas-based company said Wednesday. New orders declined 15% to 13,582 homes from a year earlier, down by 10% in value. The company is responding by walking away from land deals that don’t meet certain metrics as the market has shifted, writing off $34 million of… Source link
Read More »