RSS Feed by Calculated Risk on 7/11/2022 11:00:00 AM
Monday, July 11, 2022
Homebuilder Comments in June: “Someone turned out the lights on our sales in June!"
Today, in the Calculated Risk Real Estate Newsletter: Homebuilder Comments in June: “Someone turned out the lights on our sales in June!""
A brief excerpt:
Read these builder comments from around the country. Sales have declined sharply in June.There many more comments in the article. You can subscribe at https://calculatedrisk.substack.com/
Some homebuilder comments courtesy of Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting (a must follow for housing on twitter!):
#Atlanta builder: “Someone turned out the lights on our sales in June!”
#Austin builder: “Sales have fallen off a cliff. We’re selling 1/3 of what we sold in March and April. Trades are more willing to negotiate pricing since market has adjusted significantly past 60 days.”
#Birmingham builder: “Sales have fallen 75% the last two months in a further out community.”
#Boise builder: “Sales have slowed tremendously. Builders are dropping prices and halting new starts. Seeing prices drop on labor due to slowing of home starts. Expecting 15% to 20% reduction in most costs.”
