Housing is on a Sugar High, But Is it in for a Crash?

CNBC's Fast Money
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Automatic TRANSCRIPT

But we start with a sugar high and housing home sales pulling back in april but because prices are so hot. The median price for a new home soaring twenty percent last month. That is the biggest annual increase in thirty three years and it's not just new homes red hot housing market reinforced today but the case schiller index showing a thirteen percent gain in all home prices nationwide strong demand short supply historically low mortgage rates. All driving prices higher. Check out the move and the builders today names like toll brothers. Dr horton lesnar. Pulse group all moving higher during the session. So is this sugar high going to turn into a sugar crash. Tim weigh-in look. I think the year comps don't make a lot of sense. In terms of prices. I think the affordability has been an issue for the housing market for a long time. I think some of the the migration trends that we've seen of kobe are ones that may on wine but like i said we have a housing bubble. This is a question. I get asked a lot. I was just involved in the conversation earlier today about this Investment in in single family homes is is overall for the sector in other words building out and the man is supply. were still under invested in this country. the fact that these numbers are volatile on a monthly data series again month to month from kobe. Where obviously coming out of kobe. There's enormous pent-up demand rates are as you said. I mean i've been a driver for demand and the affordability dynamics and the inventory dynamics are things that existed well before i just look at annual wholesale seven hundred fifty thousands where we were pre covid. I think we're probably going to settle back into that range. And i think it's fine.

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