Fitch Ratings, New York, said it expects the housing market to weaken further in 2023 as affordability issues, softening economic environment and low consumer confidence continue to erode demand.
Tag: Home Building
Home Building Increases in Disaster-Prone Areas
More than half of homes built today face fire risk, compared to 14% of homes built from 1900 to 1959, as suburbanization and a shift to the Sun Belt push builders into more vulnerable areas, said Redfin, Seattle.
Zillow: Home Builders Still Playing Catchup
Zillow, Seattle, said limited supply of for-sale homes is a key reason home prices have risen quickly during the COVID-19 pandemic.
Fitch: Homebuilders Unlikely to Sustain Strong Pricing Power
Fitch Ratings, Chicago, said the strong pricing power currently enjoyed by US homebuilders is not likely sustainable through 2022, given declining affordability, weakening consumer confidence, recent moderating demand and expectation that supply-demand dynamics will improve.