The pickup in New Home Sales is giving builders confidence and pushing up Housing Starts and Permits, says Nicole Bachaud. People are looking at new homes more than existing homes, she adds. She doesn't expect demand to slow as Millennials age into homebuyers and older generations downsize. Rogers Healy adds that the labor market and rates are looking better than a month ago as well. He thinks a lot of people are buying with the expectation of only staying a few years and potentially refinancing.
20 Jun 2023