Article courtesy Marketplace
Homebuilders deal every day with the messed-up supply chains we’ve been talking so much about — delays and price hikes and unavailable items. Nonetheless, they’re feeling pretty optimistic these days. The National Association of Home Builders and Wells Fargo reported last year that their sentiment has improved notably. New housing starts and permits have been running strong.
Homebuilders were bummed out briefly when the pandemic hit last year.
But after it became apparent the industry could keep building, and buyers would keep buying, builder sentiment soared. It hit an all-time high last November, said economist Robert Dietz at the National Association of Home Builders.
“Since then, we’ve gone from a market that was unsustainably hot, to a market that is simply hot,” he said.
Lots of buyers are chasing not enough existing homes for sale, said Ken Leon at CFRA Research. And borrowing costs remain low.