Current state of the new home market from our experts across the country 🧵 Demand is just as intense as it was a year ago; Higher mortgage rates are creating near-term urgency. Concern over longer-term impact; Some builders pivoted product ahead of the interest rate jump and will be in a good position once their more attainable products come to market. Other builders wanted to build smaller but had to increase home size to get their land deals to work; Built to rent market contributing significantly to higher land prices; Home prices continue to

The #housing mkt gets crazier by the day. Here are the highlights from this morning’s call with our nationwide experts: A builder in the mountain region had to stop taking reservations because their interest list is TWO YEARS LONG; Builders in a TX mkt went back to buyers and... asked for $100K more on their contracts because of costs (25% increase); Two markets (and I’m sure it’s more) posted RECORD prices paid for lots by builders; You can’t walk in to buy a home today in a top SW market. “Nothing to buy”; Oklahoma is the most under the radar market...