Buyer Traffic Improves, Builders Still Leery of New Home Market

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Posted To: MND NewsWire

Builder confidence levels as reported by the National Association of Home Builders (NAHB) remained in the low 60s in April, a space it has now occupied for three months. The NAHB/Wells Fargo Housing Market Index (HMI) a measure of confidence in the market for new homes, rose 1 point to 63, continuing to slowly recover from the three year low of 56 it reached in December. "Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots," said NAHB Chairman Greg Ugalde. "Ongoing job growth, favorable demographics and a low-interest rate environment will help to modestly spark sales growth in the near term," said NAHB Chief Economist Robert Dietz. "However, supply-side headwinds...(read more)

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