Houseplans — housing market

RSS

Builder Confidence Holds Steady in March

In this recent press release from the National Association of Home Builders (NAHB), builder confidence remains strong through March. As the spring buying season begins, builders are encouraged by a healthy market. Affordability is a still a concern, as is the labor shortage and a shortage of buildable lots, but lumber prices have decreased and the economy continues to do well. You can read the complete press release below.

Builder Confidence Holds Steady in March

(NAHB), 

Builder confidence in the market for newly-built single-family homes held steady at 62 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.

“Builders report the market is stabilizing following the slowdown at the end of 2018 and they anticipate a solid spring home buying season,” said NAHB Chairman Greg Ugalde, a home builder and developer from Torrington, Conn.

“In a healthy sign for the housing market, more builders are saying that lower price points are selling well, and this was reflected in the government’s new home sales report released last week,” said NAHB Chief Economist Robert Dietz. “Increased inventory of affordably priced homes – in markets where government policies support such construction - will enable more entry-level buyers to enter the market.”

However, affordability still remains a key concern for builders. The skilled worker shortage, lack of buildable lots and stiff zoning restrictions in many major metro markets are among the challenges builders face as they strive to construct homes that can sell at affordable price points.

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

The HMI component charting sales expectations in the next six months rose three points to 71, the index gauging current sales conditions increased two points to 68, and the component measuring traffic of prospective buyers fell four points to 44. Looking at the three-month moving averages for regional HMI scores, the Northeast posted a five-point gain to 48, the South was up three points to 66 and West increased two points to 69. The Midwest posted a one-point decline to 51.

Editor's Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.

New Home Sales Rise 8.3 Percent Overall in 2017

The housing market came roaring back to life this past year according to this recent article from the National Association of Home Builders (NAHB). New home sales rose 8.3% in 2017 due to continued improvement in the market, continued low … Continue reading

Proposed Lumber Duties Will Harm Consumers, Housing Affordability

From the National Association of Home Builders (NAHB) The National Association of Home Builders (NAHB) today denounced the decision by the U.S. Department of Commerce to impose a 20 percent countervailing duty on Canadian lumber imports, saying it will harm … Continue reading

Builder Confidence Hits 12-Year High

According to the National Association of Home Builders (NAHB), builder confidence is higher than it has been in 12 years thanks to President Trumps regulatory reforms. (NAHB) Builder confidence in the market for newly-built single-family homes jumped six points to … Continue reading

Apartment and Condominium Market Keeps Momentum Going in Fourth Quarter

From the National Association of Home Builders (NAHB) Apartment and Condominium Market Keeps Momentum Going in Fourth Quarter The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), posted a gain of two points to 55 … Continue reading

Multifamily Uptick Pushes Overall Housing Starts Up 2.1 Percent in July

According to a recent National Association of Home Builders study multi family housing is up 5% while single family production rose 0.5%. Permit issuance were increased in the Midwest and the South while the West and Northeast dipped a bit. … Continue reading