Housing Market that’s driving up home prices

Welcome back to yahoo finance live every one as we continue to track the state of the housing market home prices in focus here today. As the january us home price growth was nineteen point.

Two percent were going to dive further into the exact metrics in a moment, but take a look at some of the movement that we I’ve been tracking here for home builders, as we’ve been tracking across both new homes and existing homes.

Of course, data has already shown that existing homes inventory has continued to drive some of the prices of those existing homes that are on the market higher. Meanwhile, it’s been hard for some of the new home builders out there like a leno or like a toll brothers too, actually execute because of supply chain crunches as well, however, you’re seeing all of these companies move higher, including the e t f that tracks the s and p five hundred home builder segment x, h b, that up on the day by about three percent on this news, we’re gonna go further into this data in just a moment.

Let’s talk about all that would w boys. She is the ceo of deal be financial services. Debbie nice to see you brad just showed us those numbers. Nineteen point two percent in january year over year. That’s up from eighteen point: nine. How long can these prices stay so hot? And what are your other big takeaways from the report? Well, you know, I do think it is indicative of what’s going on the market.

We got that perfect storm right now we got show they did that supply chain problems. We did that drove people to work from home. Now companies know that people can work them. All people know that they can now they’re moving. There are moving to states that have lower income mm taxes that any they’re moving to state for their families are, are they’re just moving to states that are prettier and they want to be, and now that you could work for any where it really has changed the game of employment. What are specifically those hottest markets and is there one particular common thread among them?

You mentioned some of the possibilities could have been jobs. Could it be taxes? Could it be whether could it be a labor market? I think all of those things. I think you know what I’m here in dallas and we had a lot of people get living from everywhere everywhere else, but here so our people are sitting still everyone else coming in chicago atlanta, new york, boston and then we got a wet, as we’ve got people from washington that are cashing in as expensive home than by bank twice what they can buy up in washington or in california, pocketing the money and investing it or buying rental property.

That was really a great time to move your money around and different types of events is your baby couldn’t last year, three hottest markets, phoenix tampa and miami absurd, and two thirty and twenty percent respectively.

How you expect the mortgage rates on the rise will impact on the market. You know what well the prices going up or one thing. Another thing is that as interest rates, so when the interest rates go up, it’s not going to deter you from buying if you’re going to move you’re going to move, but it just means that you’re going to get less house now than you could.

Last year I had quite a bit a percentage. So yes, can you move to miami proper? Maybe not! Maybe you can’t afford to be in the city. Now, though, prices are thirty percent more than they were last year, so you’re going to be in the suburbs of miami, it’s going to change the way that we live in changing the way that we’re using our money, a lot of people are cashing out of their four o one k and investing that money into real estate.

While you have people, on the other hand, moving money from the stock market and they’re putting it into real estate within best property, we got a lot going on right now in terms of more good fruits. How hard you expect him to go, and is there a point at which it will cool off the market? I think it will cool off in a little while, but not anytime soon, and I think this year we’re going to see close to six percent.

So are rates are going up just with the fed talking they go up a little bit, but with the threat. Ah, the fat jockey. They go up a little bit, so we’re already a whole point higher than we were in december and the feds only foot one. So are they going to rage and seven more times? I don’t know, but just the idea that they can raise it if they want you, which has always been out there. But now people are talking about it.

The rates are going to self regulate, perfect storm right now, with demand so high, an inventory so low with inventories. The big question moving forward been relatively flat and brad mentioned some of the factors. Why use it? Their home builders aren’t increasing inventory.

Well, they can’t and a lot of cases, I’m I’m in suburban, north dallas area, where we have all the major homebuilders build here, and you know what they’re selling two houses at a time or month where they used to be able to sell whatever they wanted. So no, they don’t have enough lumber. They don’t have enough things. They don’t have enough electrical boxes. People don’t have enough and there’s not enough workers to go around. So, yes, you can.

About Tarang Srivastava

He is a Growth Marketer & Digital Psychologists & The founder of Install Growth. And He is also a seasonal writer at Install Growth.