February experienced a cooling in New Home Starts, dropping 7%. Although the annualized new starts is now estimated to be almost 90,000 less than the estimate after January, we are still at a 10-year high. Single family housing starts continue to outpace multi-family starts. Concerns about the pace of growth as a result of increased interest rates, and labor and material supply demands. Check out my blog on the top for a more details: February New Housing Start Slump.
Where do you see the market going this year? Will inventory stay tight all year? How high will interest rates go? What is the sustainable home value growth rate?