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The housing market is in correction mode right now, and it will continue to correct for the time being, we look at the reasons why home builders are now firmly in the driver seat for further downward home price growth for the foreseebable future. With these public home building companies releasing their first quarter earnings reports, it provides us with much needed insight in the direction of residential real estate in the coming quarters. We delve into the costs estimates for the core home building materials needed to build and complete new houses, and we look at the year over year change in cost for all of the primary raw materials needed by these large publicly traded companies, such as DR Horton, Lennar, and Pulte Group to name a few.
Active listings on the US housing market has been consistently low for years now, when compared to 2019 we currently have a 500,000 home deficit. That all may be about to change, according to trends analysis we report in this video showing where the difference could be made up to get us back to historical levels.
The US Census Bureau just released new data on housing starts, housing completions, and houses currently under construction, and once again we have a record number of new homes under construction, in fact over the last 6 months the total number of houses under construction has only fallen by 30,000 homes. Which means we are still expecting a deluge of inventory to unload onto the market toward the later part of 2023 and 2024.
This video is not financial advice.