The Hedgeye Housing Team, led by Josh Steiner and Christian Drake, will be hosting a conference call today, May 22nd at 1:00pm ET to update their outlook for Housing in 2017.
To get access to this institutional research call email sales@hedgeye.com.
KEY TOPICS WILL INCLUDE:
- Home Price Breakout? Housing inventory is at multi-decade lows, and inventory tightness will continue to constrain the upside in demand growth, but it will also support further price acceleration which, historically, has been positive for housing related equities. The HPI Tug-O-War dynamic we've highlighted in the past is now breaking out to the upside.
- Fundamental Trends & Outlook: Thus far in 2017, Housing confidence has improved from the perspective of both the homebuilder and the homebuyer. Sales and mortgage applications are exhibiting strong growth trends. Recent upticks in confidence, mortgage application volume, and home sales bode well for the US housing market in the near term, but will the trend continue as supply remains tight?
- High End: Over the course of the past two years, the high-end has struggled with falling volumes and weakening prices, but recently has begun to positively inflect. High ticket discretionary consumption has grown +5% thus far in 2017, a notable acceleration from 2016's post-recession low watermark of 1% growth. Will we see this trend persist throughout the back half of 2017?
- Millennial Mojo: The Millennial generation (18-34 YOA) is beginning to enter its prime home-buying years and household formation within the cohort is picking up. Through the first quarter, sales to 1st time buyers are growing at a multiple to total EHS growth and continue to make higher highs on an absolute basis. Will 2017 be the year when Housing finally feels the impact of the millennial home buyer?
CALL DETAILS
Ping sales@hedgeye.com for more information. Please note if you are not a current subscriber to our Housing research there will be a fee associated with this call.
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