Podcast: Has the Housing Upturn Begun?
In the latest episode of the Housing Developments podcast, NAHB CEO Jim Tobin and SVP Paul Lopez discuss two positive economic indices released this week: housing starts had a huge jump in May and builder confidence is in positive territory for the first time in 11 months. The co-hosts discuss the reality that these developments represent, including what this means for the inflationary environment in advance of Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill.
Listen to Housing Developments wherever you get your podcasts, or watch a video of the full episode below.
Editor’s note: Find more in-depth analyses on starts and builder sentiment data on NAHB’s economics blog, Eye on Housing.
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Latest Economic News
Labor shortages in the home building industry are becoming more widespread, according to recent results from the NAHB/Well Fargo Housing Market Index (HMI) survey.
Higher energy prices pushed inflation to a four-month high in September, keeping pressure on the Fed as inflation has remained above its 2% target for more than five years.
Existing home sales rose after three months of declines as improved inventory gave buyers more negotiating power. As buyers wait for rate relief, homes are sitting on the market longer and for-sale inventory reached the highest level in over a decade.