Builder Confidence Drops as Housing Affordability Issues Rise

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the sharp drop, builder sentiment still remains in positive territory.

“Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La.

“For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction,” said NAHB Chief Economist Robert Dietz. “While home price growth accommodated increasing construction costs during this period, rising mortgage interest rates in recent months coupled with the cumulative run-up in pricing has caused housing demand to stall.”

With the prospect of future interest rate hikes in store, Dietz said that builders have adopted a more cautious approach to market conditions and urged policymakers to take note.

“Recent policy statements on economic conditions have lacked commentary on housing, even as housing affordability has hit a 10-year low,” said Dietz. “Given that housing leads the economy, policymakers need to focus more on residential market conditions.”

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

All of the major HMI indices posted declines. The index measuring current sales conditions fell seven points to 67, the component gauging expectations in the next six months dropped 10 points to 65 and the metric charting buyer traffic registered an eight-point drop to 45.

Looking at the three-month moving averages for regional HMI scores, the Northeast rose two points to 58. The Midwest edged one point lower to 57, the South declined two points to 68 and the West dropped three points to 71.

Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at More information on housing statistics is also available at

Original Source

Top 15 Real Estate Agents Sales YTD in Long Beach, California

Featuring the Top 15 Real Estate Agents with YTD Sales through October 2018 in Long Beach, California Area

Long Beach, CA – The Long Beach, California area is a coastal city and port in Southern California.  Moored in its Queensway Bay, RMS Queen Mary is a retired ocean liner and museum ship.  The waterfront Aquarium of the Pacific features touch tanks and a shark lagoon.

STL.News offers the Top 15 Real Estate Teams/Agents in Long Beach, California, based on YTD Sales through October 2018.

  1. Spencer Snyder – The Spencer Snyder Group
  2. Eileen Rivera – The Rivera Group
    4332 Atlantic
    Long Beach, CA 90807
    Mobile: (562) 246-6772
    E-mail: [email protected]
  3. Sue La Bounty – The Sue La Bounty Group
  4. Jason Patterson – Re/Max
  5. Jack Irvin – Coldwell Banker Coastal Alliance
  6. Mike Dunfee – Mike Dunfee Group/Engel & Völkers Long Beach
  7. Loree Scarborough – Coldwell Banker Coastal Alliance
  8. Kendra Miller – Keller Williams
  9. Oriana Shea – Nationwide Real Estate Executives
  10. Lewis Ebersole – Re/Max
  11. Geary Smith – Coldwell Banker Beachside, Realtors
  12. Keith Muirhead – Equity Brokers
  13. Michele “K” Kreinheder – Broadmoor Realty, Inc
    5500 E. Atherton Suite 310
    Long Beach, CA 90815
    Mobile: (562) 243-2171
    E-mail: [email protected]
  14. Brandon Caldarella – First Team Real Estate
  15. Sharon Amarantos – Baytown Realty

With so many realtors offering real estate services in the Long Beach community, it is hard to list them all.  Having said that, our listing is based on public reviews and opinions.  The realtors have the options to pay us to help promote their ranking, which again, is solely based on public opinion, not ours.

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