Homebuilders

Denver’s years-long building permit delay is scaring off homeowners who might want to build and homebuilders who must navigate the Kafka-esque system. Chris Withers, the owner of Old Greenwich Builders, said he knows one property owner who sold her property in Southern Hills after waiting more than eight months for a permit. She’d planned to scrape the existing home and build a $3 million new one. “Knowing they can’t break ground for more than a year is untenable for many people,” Withers says. “Then you have the build…

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022.George Frey | Bloomberg | Getty ImagesThe once-hot housing market is cooling off at an alarming rate, and some homebuilders say it will only get worse come the new year as new orders dry up. Fast-rising mortgage rates have caused once-frenzied homebuyers to turn on their heels and become worried about their potential investment and the health of the overall economy."There's this cliff that's happening in January,"…

Long lead times to complete new homes have combined with rapidly rising interest rates, now at 15-year highs, to put metro Denver homebuilders and their customers in a predicament unlike any seen since the housing bust. Ricarda Dietsch, Area President for Taylor Morrison homes inside the model home, Vail at Macanta Sept. 22, 2022, in Castle Rock. (Photo by Andy Cross/The Denver Post) “People thought they were getting a 3% interest rate on their 30-year mortgages and now they are looking at above 6%,” said Ricarda Dietsch,…

A worker walks on the roof of a new home under construction in Carlsbad, California.Mike Blake | ReutersMore builders are lowering prices for homes as their confidence in the market continues to tumble.Homebuilder sentiment in September fell 3 points to 46 in the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.related investing newsHomebuilding sector historically outperforms following early declines, KeyBanc says in upgrade to overweightThat is the ninth…

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022.George Frey | Bloomberg | Getty ImagesBuilder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.The National Association of Home Builders/Wells Fargo Housing Market Index dropped 6 points to 49 this month, its eighth straight monthly decline. Anything above 50 is considered positive. The index has not been in negative territory…

Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021.Micah Green | Bloomberg | Getty ImagesAfter two years of not being able to build homes fast enough to keep up with demand, the nation's homebuilders are now experiencing a slowdown in sales and an increase in supply.Sales of newly built homes fell more than 8% in June from the prior month and were 17% lower than June of 2021, according to a report Tuesday from the U.S. Census.…