Going through our monthly macro housing/econ deck (it's almost 400 slides)! 10 charts that caught my attention.

1/10: Apparently people buy homes even if mortgage rates aren't 3% or below.
2/10: Looks like mortgage lending is back to pre-COVID norms. Lenders saying 'easy' fell off a cliff in 2Q20 but now back to norm.
3/10: Builders jacked prices 16% YOY in April, about 4x the rate of appreciation pre-COVID.
4/10: Cost of renting a home getting pretty close to cost of owning. With SFR rents shooting higher it'll be interesting to see if/when blue and green lines cross below.
5/10: Good luck finding a home.
6/10: Spread between 'good time to buy home' & 'good time to sell home' has blown out (highest in a decade).
7/10: Average monthly student loan payment = $391. Two people in a household have saved over $9k in the last year if they've deferred payment during COVID. Nice down payment on a home in many parts of the country.
8/10: People REALLY like trucks (orange line). BTW, typically correlates nicely with new home construction trends.
9/10: Commodity prices are rising just a bit. No, lumber is not included in this index.
10/10: Biggest problem for businesses isn't poor sales (orange line), it's quality of labor (blue line).

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Rick Palacios Jr.

Rick Palacios Jr. Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @RickPalaciosJr

10 May
I did an April home builder commentary 🧵last week, switching to building material dealers this week (companies making/selling products to home builders). We asked, “What worries you the most, regarding your business & the remainder of 2021?” Here’s what followed…
“Material cost volatility degrading margins for the duration of the year; labor availability is a close second.”
“Continued supply chain disruptions and product availability.”
Read 10 tweets
6 May
Here’s on the ground local home builder commentary from across the country per our April survey. A lot of builders are pressing the pause button &/or slowing things down until construction costs moderate & they can catch up with sales. Worries about buyer price ceilings too...
#Chicago home builder commentary: “We sold all of the homes we had in early 2021 & haven’t started anything new, & may not due to the cost of construction. Can’t hold pricing for clients longer than 45 days with rising material pricing.”
#Nashville home builder commentary: “Pray for lower lumber prices.”
Read 13 tweets
21 Apr
Some interesting housing color from mid-April around the country home builder channel check. Bunch of market commentary to follow...will try to hit most top markets.
#SaltLakeCity home builder mid-April color: “Still have 10x buyers to available homes to buy. Went to 'highest/ best' offer system March 1st & offers over asking price are shocking. Most offers are 10+% over ask, that's after raised base prices $10K to $20K+ with each release.”
#Austin home builder mid-April color: “Super high demand. Volume controlled with release process, otherwise would be unbearable. Some price increases are $100K between releases.”
Read 28 tweets
5 Feb
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.”
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(