While new home sales did beat estimates in the latest Census report, with sales just floating around near the lows of the year, we can see with the monthly supply data that the builders still have way too much backlog of homes they need to build to raise their confidence.

One of the realities of COVID-19 has been the lag to build homes in a business that requires stable mortgage rates because of the traditional time to complete a home. It didn’t help the builders that they had a global pandemic and details ⇒

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