Some fresh home builder commentary for top #Texas markets. In general, buyer interest lists aren’t shrinking much, and if a few drop-off, builders are easily backfilling. Drumbeat a bit louder on prices getting too high. Demand still pretty nuts.🧵to follow...
#Houston builder: “Buyer interest lists are shrinking slightly. Likely too much price pressure, it’s out of hand.”
#Houston builder: “We’ll be metering sales again in June.”
#Houston builder: “Lots of people getting priced out of the market. $90K household income to buy what $74K could 11 months ago. Buyers are still showing up though. Raising prices weekly and staying away from dirt sales because cost creep before slab is too risky.”
#Houston builder: “Concerned that when costs come down, what percentage of buyers bail on existing contracts that aren’t delivered yet.”
#Houston builder: “Some buyers are getting sticker shock at time of mortgage application. Seeing a lot of bust outs in first 30 days of contract.”
#Austin builder: “Buyer interest lists are changing, not shrinking. Anyone who was priced out has moved on but list is filling up with new prospects.”
#Austin builder: “Breaking new price records weekly for our communities.”
#Austin builder: “No issues finding enough buyers for our metered sales quotas at our listed prices.”
#Dallas builder: “Buyers are falling out because of affordability, but there’s been enough new prospects to not affect the sales pace we want.”
#Dallas builder: “As new pricing gets released we have people fall off our lists, but those continue to be backfilled. Over 1,000 people already on VIP list for small lot deal just listed as 'coming soon' community.”
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