Thread by @RickPalaciosJr

Just published January @JBREC home builder survey. Market's still strong. Some builder color to paint the picture:

Boise builder: "Only reason sales aren't higher is because we're listing spec homes later in process and limiting starts to avoid gapping on lots.”

Bend, OR builder: "Getting calls daily from brokers asking when we'll be listing homes they see under construction. Cannot build fast enough!"

Atlanta builder: "Pricing is off the charts. We're well over 20% YOY when you look at base pricing, lot premiums, and no incentives.”

Charlotte builder: "New home market is hottest I've seen since 1987, but even hotter. We're getting people camping for the next lot release in several neighborhoods. Raising prices $3,000 to $5,000 every other week."

Phoenix builder: "Seeing highest number of people trying to prequalify for a loan that we've seen in over a year. We're limiting sales in many communities to make sure we can build what we are selling.”

Salt Lake City builder: "Many builders are moving to accepting highest & best offers on homes released for sale. Now have people in my sphere of influence contacting me to get their daughter/son/brother/etc. moved to the top of the waiting list.”

Austin builder: "Unbelievable demand and price escalation. Hottest market in the country without a doubt.”

Last one to wrap it up. In January, total US new home sales +40% YOY and builders raised prices 10% YOY per @JBREC monthly survey. Nice start to 2021 for #housing.