Economic News From The National Association of Home Builders

This article was originally published on Sept. 16, 2024 in NAHB Housing Headlines.

Yahoo Finance

The days of 3 to 4% mortgages may be ‘gone,’ NAHB CEO says (video)
The National Association of Home Builders (NAHB) reported home builder confidence to have risen to a print of 41 in September, up from August’s reading of 39. Mortgage rates, also, continued to cool to 6.2%, declining their lowest levels since February 2023.

Marketplace

Home builder confidence up ahead of expected rate cuts
There’s some evidence that the gloom is beginning to lift in the single-family home market. Mortgage rates have dropped, and homebuilder confidence is up this month, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.

Reuters

US single-family housing starts surge; building permits rise moderately
U.S. single-family homebuilding rebounded sharply in August, but a moderate increase in building permits suggested that the momentum was unlikely to be sustained against the backdrop of a rising supply of new homes on the market.

Reuters

US existing home sales drop in August; supply improves
U.S. existing home sales fell more than expected in August as house prices remained elevated despite a continued improvement in supply. Home sales fell 2.5% last month to a seasonally adjusted annual rate of 3.86 million units, the National Association of Realtors said on Thursday.

Fox Business

Mortgage rates fall again, but home sales still lag
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.09%, down from the 6.20% reading of the past two weeks. The average rate on a 30-year loan was 7.19% a year ago.