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Homebuilder Sentiment Slides, Buyer Traffic Plunges, Weather Blamed

Tyler Durden's picture




 

Homebuilder Sentiment slipped from 57 to 55 in February - missing extyrapolated expectations of a 58 print by the most in over 6 months. Present sales slipped very modestly, future expectations remained flat (and hope-strewn) as Prospective Buyers Traffic tumbled from 44 to 39. Of course, the blame for this weakness and dramatic drop in prospective buyer traffic - The Weather!! Except we note that the Northeast region (one of the hardest hit by the storms) rose from 43 to 48.

 

Buyer traffic tumbled...

 

But the Northeast region saw an improvement (even as Midwest did suffer)...

 

“Overall, builder sentiment remains fairly solid, with this slight downturn largely attributable to the unusually high snow levels across much of the nation,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo.

*  *  *

So The Weather hurt Midwest traffic BUT did actually helped NorthEast traffic?

 

Charts: Bloomberg

 

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Tue, 02/17/2015 - 11:25 | 5793969 Soul Glow
Soul Glow's picture

Excuses, bitchez!

Tue, 02/17/2015 - 11:27 | 5793979 PartysOver
PartysOver's picture

Got ED? Blame it on the weather. It is cold outside. Shrinkage.

Tue, 02/17/2015 - 11:45 | 5794040 rccalhoun
rccalhoun's picture

when zero's capitualate....then stock/kousing/assets will fold

Tue, 02/17/2015 - 11:48 | 5794056 NoDebt
NoDebt's picture

Having been run over by the bus several times in my life, I'm just glad I bought a little house long ago and never upgraded.  One of the rare times in my life I avoided making a big mistake by being lazy (never got around to shopping for a bigger house before the crash).  Plus they're cheaper and easier to maintain.

Now, if you'll excuse me I have to replace the bathroom toilet- somebody snapped the whole mounting flange off the left side of it.  Lesson:  Don't let fat people use your toilet.  They can do damage well beyond just backing up the pipes.  Yeah, like that.  Have a nice day, everyone.

 

Tue, 02/17/2015 - 13:21 | 5794397 PTR
PTR's picture

Don't even start me on bathroom horror stories.

 

Think of when Jeb of the Beverly Hillbillies shoots at the rabbit and what came up, emphasis on "bubbling."

 

Your welcome.

Tue, 02/17/2015 - 12:00 | 5794090 NoVa
NoVa's picture

wait till the index comes out in March for February - 

 

NoVa

Tue, 02/17/2015 - 13:23 | 5794412 PTR
PTR's picture

Poor results will be blamed on the month only being 28 days.

 

If that doesn't pan, the next option is to blame the sun's transition into Pisces.

Tue, 02/17/2015 - 14:13 | 5794612 Miffed Microbio...
Miffed Microbiologist's picture

As a Pisces I am anxiously awaiting that event so my fish my have a moment of unified swimming vs in opposition. This is a time for sensual explorations and renewing indulgences for the coming astrological year.

Mr doesn't seem to share my assessment but appears to go along with my idea without disagreement. Perhaps he sees some personal advantage by not questioning validity but smiling and head nodding.

Miffed

Tue, 02/17/2015 - 11:26 | 5793974 experimentals
experimentals's picture

Real Estate is very local I have learned. Check new home building in a city like Irvine, and notice the Chinese buying everything in sight.

Tue, 02/17/2015 - 11:36 | 5794014 Thirst Mutilator
Thirst Mutilator's picture

So, the Chinks fancy themselves as Republicans? Whocoodanode?

Tue, 02/17/2015 - 11:28 | 5793980 venturen
venturen's picture

Does this include Private Equity buying homes? 

Tue, 02/17/2015 - 11:28 | 5793982 Ban KKiller
Ban KKiller's picture

They should be buying back their stock hand over fist. EPS! 

Why buy new when used homes are still on sale in most places? OR just find a foreclosed on home, issue your OWN mortgage and move in. 

Tue, 02/17/2015 - 11:28 | 5793983 Arius
Arius's picture

really how can anyone go out to buy in this kind of weather?

Tue, 02/17/2015 - 11:30 | 5793988 Doubleguns
Doubleguns's picture

Fire place options must be running high. 

Tue, 02/17/2015 - 11:32 | 5793997 NoPension
NoPension's picture

Financing has gone full retard.

Tue, 02/17/2015 - 11:36 | 5794010 wmbz
wmbz's picture

“Overall, builder sentiment remains fairly solid, with this slight downturn largely attributable to the unusually high snow levels across much of the nation,”

said NAHB Chairman Tom Woods

 

~ Well I have to say 'Ol Tom has a sweet gig. Gets to trott out kindergarden statements and still take home a paycheck.

Of course he is speaking to an audience  of like minds!

Tue, 02/17/2015 - 11:40 | 5794027 new game
new game's picture

really, no snow here in mnsnota. brown field everywhere...

Tue, 02/17/2015 - 11:41 | 5794033 Father Lucifer
Father Lucifer's picture

Nothing matters markets will go up. 0.5% is the new dip. Forget PPT it's now PTATH (protect the all time high) team.

Tue, 02/17/2015 - 11:44 | 5794038 MathWins
MathWins's picture

Yeah, because builders don't expect snow in the winter in the northern parts of the U.S.  In our region (Michigan), builders were looking forward to a slower January and February for a break, after 60+ hours a week for much of last year.  Still busy though, and we are not complaining.

Tue, 02/17/2015 - 12:35 | 5794233 TideFighter
TideFighter's picture

New construction should be financed no longer than 15 years = to the half life of the structure. The materials use and workmanship have dropped to an all-time low. Here in north coastal Florida, we have 90% all cash deals; just a parking space for people not in stawks.  

Tue, 02/17/2015 - 13:10 | 5794358 Mike Honcho
Mike Honcho's picture

Ice storm here last night, will definitely not be making any major housing investment this year.

Tue, 02/17/2015 - 13:10 | 5794362 Buster Cherry
Buster Cherry's picture

When the oil glut of 1982 hit Houston, I put away my machinists tools as that work evaporated and dusted off the saws and nail guns to work in new home construction....till that too played out. After all, who had any money to buy a new home?

I learned several trades in those years since, and while jobs have ended, another has always been had within a week.

Tue, 02/17/2015 - 15:43 | 5794989 fremannx
fremannx's picture

New York City’s residential real estate and its keen resemblance to what happened in 1929, when the demand for luxury housing also spiked to previously unseen heights, is just one more indication of the bust to come. 

 

http://www.globaldeflationnews.com/evidence-of-another-even-more-sweepin...


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