Homebuilders in Panic Mode? Mortgage Rates Just Did WHAT?

With mortgage rates hitting a shocking 23-year high and consistently remaining above 7%, builder confidence is shaking to its core. In this episode, I, John Schink of Deerwood Realty, delve deep into the latest National Association of Home Builders/Wells Fargo Housing Market Index to shed light on the severe decline in builder sentiment. Discover why buyers, especially the younger generation, are feeling the pinch and how this environment is forcing builders to resort to drastic measures. Can builders adjust to this new challenging landscape, or will housing affordability remain a pipe dream?

#MortgageRates, #BuilderConfidence, #HousingCrisis

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https://www.nahb.org/news-and-economics/press-releases/2023/10/mortgage-rates-well-above-7-percent-continue-to-hammer-builder-confidence?