Homebuilders say demand is rising, but they're concerned about banking fallout
Publishing timestamp: 2023-03-15 11:53:53
Summary
Builder sentiment in the market for newly built single-family homes rose for the third straight month in March, despite expectations of a drop. However, sales expectations for the next six months fell, and the industry is concerned about recent instability in the banking system. Homebuilders are dealing with high construction costs and material supply chain disruptions, but are reporting strong pent-up demand. The supply situation may also be affected by banking stress, with 40% of builders characterizing lot availability as "poor."
Sentiment: NEUTRAL
Tickers: LEN,
Keywords: lennar corp, business news, real estate, mortgages, housing, business,
Source: https://www.cnbc.com/2023/03/15/homebuilder-confidence-rises-in-march.html