by Calculated Risk on 6/08/2022 05:12:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Homebuilder Comments in May: “Builder metrics quickly deteriorating"

A brief excerpt:

Read these comments. These are clear signs of a market shift.

Some homebuilder comments courtesy of Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting (a must follow for housing on twitter!):
...
#Austin builder: “Some parts of town where finished homes are now taking a month to sell versus hours. Market is definitely correcting. Incentives are back and seeing some builders cutting prices on inventory.”
...
#Birmingham builder: “Steep decline in sales over past 2 weeks.”
...
#Greenville builder: “Lowest traffic in many months.”

#LosAngeles builder: “Seeing more cancellations due to payment shock for those in backlog that didn't lock rates.”
...
#Portland builder: “Incentives are back in the market.”

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/