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Top U.S. Home Builders Report Strong Sales Despite Rising Mortgage Rates

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Market Data + Trends

Top U.S. Home Builders Report Strong Sales Despite Rising Mortgage Rates

After years of fierce competition for limited housing supply, elevated interest rates may not be enough to cool off a red-hot housing market

May 5, 2022
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Image: Stock.adobe.com

Though some housing experts anticipate a market slowdown in response to elevated mortgage rates, the nation’s largest home builders are still reporting strong sales and resilience from impatient and determined buyers. Much like the nation’s top builder, D.R. Horton, Pulte, the third largest, is limiting sales to keep a healthy pace with heightened demand despite recent price hikes.

According to ForexLive, a supply and demand imbalance is sustaining home building activity in the midst of an affordability crisis. Even as mortgage rates reach new highs, a lack of available housing inventory is driving up demand and keeping home builders busy in every regional market.

According to Pulte:

"The demand that we saw in the first quarter was exceptionally strong, and that's continued into April."

"I think it's fair to say that the supply/demand dynamics of the first quarter were consistent with the trends the industry has been experiencing for the past year or more. In short, demand was strong, available inventory was scarce and the incoming supply is limited.”

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