Despite uncertainty in the Federal Reserve (rates unlikely to come down, even with a new chair) and overall economic chaos, home-builders are cautiously optimistic about the future, due largely to the 21st Century Road to Housing Act, which Congress is scheduled to take up this week.
The bill is a broad housing reform program which could ease the country’s tight housing supply. In the meantime, May is the 14th month in a row that at least 60% of builders cut prices as a sales incentive.