![]() ![]() ![]() Mortgage refinance activity, meanwhile, is higher by 86% from last year. The MBA reported this week that mortgage applications to purchase a single-family home are now higher by 25% from last year, the 18th straight week in positive territory. Bottoming on the week ending April 15th with year-over-year declines of 35%, the rebound over the last five months has been swift and unrelenting, and has yet to show any significant signs of cooling. Perhaps the sharpest "V" of all economic data points has been seen in Homebuilder Sentiment itself, which jumped to the strongest levels on record in September, driven by a record surge in Home Buyer Traffic.Įven before we began to see the rebound in Homebuilder Sentiment, the early signs of the unexpected rebound in housing market activity were seen prominently in the Mortgage Bankers Association's weekly mortgage data as well as in Redfin's ( RDFN) homebuying demand index, which formed the contours of a sharp V-shaped bounce amid the depths of the lockdowns in April. housing sector foretold an emerging consumer-led rebound, which continues to catch analysts and economists by surprise, underscored by record-high readings on the Citi Economic Surprise Index. housing industry was likely to be an unexpected leader of the post-pandemic recovery, a far cry from their role as a primary provocateur during the prior financial crisis. Together, these 15 firms constructed approximately a quarter of total single-family homes built last year.Īs we discussed since the dark days of mid-March, while the " Housing Crash 2.0" narrative was certainly a clickable headline, macroeconomic fundamentals indicated that the U.S. In the Hoya Capital Homebuilder Index, we track the 15 largest homebuilders, which account for roughly $100 billion in market value. housing sector, homebuilders have roared back to life in recent months, leading the early stages of the post-pandemic recovery. After being slammed at the outset of the pandemic on fears that a coronavirus-induced recession could inflame a repeat of the Great Financial Crisis for the critical U.S. Click Here to Read.)Īn antihero of the prior financial crisis, publicly-traded homebuilders have seemingly been on a vendetta over the last six months, asserting themselves as the unexpected leader of the early post-pandemic recovery. ( This report was also featured on Seeking Alpha. Homebuilders trade at deeply discounted valuations to the S&P 500 despite their stellar growth rates. Housing remains an “unloved” sector despite the compelling long-term tailwinds at its back.The sharp rebound in housing market activity has been aided by longer-term macroeconomic trends of favorable millennial-led demographics, historically low housing supply, and near-record low mortgage rates.New Home Sales, Existing Home Sales, and Home Prices have all seen a substantial reacceleration this year. housing industry has roared back to life in recent months. Homebuilders were slammed at the outset of the pandemic on fears that a coronavirus-induced recession could inflame a repeat of the Great Financial Crisis for the critical U.S.An antihero of the prior financial crisis, Homebuilders have seemingly been on a vendetta over the last six months, asserting themselves as the unexpected leader of the early post-pandemic recovery.Looking for something to read? Try one of these 100+ recommendations, all chosen by r/DCcomics users. If you are submitting a link, do not include the spoiler in your submitted link name. If a significant event has taken place within one year of its release, mark it as a spoiler. No memes or other low-effort content (see full rules).Indicate the source when submitting excerpts or artwork.No spoilers in title, mark all spoilers within 1 year of release.Please adhere to these few rules while interacting within the community.Ĭlick here for a detailed explanation for each of these rules. 4/6 - Juan Gedeon and Daniel Warren Johnson.Weekly Discussion Thread: Comics, TV and More! - May 29 th, 2023.Reading Recommendations Welcome to /r/DCcomicsĪ place for fans of DC's comics, movies, fan creations, video games, and anything else related to one of the largest comic book publishers in the world, and home of the World's Greatest Superheroes!
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