The National Association of Realtors’ Pending Home Sales Index increased 2.5% on a month-over-month basis to a reading of 76.9 in December.
Builders right now are more conservative and selective in regard to acquiring new land, yet remain committed to developing sites within existing pipelines to provide future supply.
While overall affordability increased, the median purchase application amount for loans also increased during December, according to the Mortgage Bankers Association.
The builder is focused on turning its inventory to maximize returns and has adjusted selling patterns to better ensure certainty for buyers and reduce cancellations compared with previous quarters during the fiscal year.
The outgoing NAHB chairman reflects on the past year in the housing industry, the major wins for the organization, and challenges for the housing industry moving forward.
