The housing resale market has been a tough one, with mortgage rates the highest they've been in recent history and low inventory, current owners frequently have low-rate mortgages and aren't looking to trade one for the other, and many owners are in a demographic where the likelihood of selling and moving to another house drops significantly.

That's been good news for homebuilders, as Rick Palacios Jr., director of research and managing principal, and Dean Wehrli, principal, at John Burns Research and Consulting, discussed on a recent podcast.

As in basic economics, supply and demand interact. When there isn't enough supply, there's room to create more. That is what's been happening in housing. The market for homebuilders is much better now than anyone had expected at the beginning of the year. With resale supply being low, people who want to buy have to move to new.