- Buyers hobbled by spike in mortgage rates and sky-high prices. Builders hobbled by shortages and worst spike in costs ever recorded.
- Homebuilders are facing historic spikes in costs, and they’re hobbled by shortages of materials, supplies, and labor that have been stalling construction projects and impeded the completion of projects.
- The median price of single-family houses sold, having apparently hit some kind of ceiling last year, fell to $400,600 in February, down about 7% from the peak in November 2021 ($430,300), having now bounced up and down in the same range since July 2021 ($406,000).
For further details see:
New House Inventory Highest Since 2008, Sales And Prices Drop, Homebuilder Stocks Swoon