Eye On Housing
Friday’s post described how, in the construction industry, job layoffs have plunged while unfilled job positions remain elevated (according to the government’s latest Job Openings and Labor Turnover report). If more evidence of a severe supply chain challenge is needed, the record percentages of NAHB members reporting labor shortages in recent surveys can provide it. Let’s turn first to the… Read More ›
Builder sentiment in the market for newly-built single-family homes fell five points to 75 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index is at its lowest point since July 2020. Higher construction costs and supply shortages have led to significant price growth, which in turn has caused prospective buyers to… Read More ›
The housing market did not escape the pain and contraction experienced by the US economy in April 2020 as a result of the lockdown orders issued by state and local governments to mitigate the effects of the COVID-19 pandemic. Builder confidence posted a historic decline and there were broad declines for housing starts. In recent weeks, there has been anecdotal… Read More ›
Builder confidence in the market for newly-built single-family homes remained unchanged at a solid 68 reading in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builders are optimistic about housing market conditions, basing their confidence on continued solid demand for single-family homes. However, persistent increases in construction costs make it increasingly challenging to produce homes… Read More ›
Builder confidence in the market for newly-built single-family homes weakened slightly in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market. As… Read More ›
Builders remained virtually unchanged in their attitudes toward the housing market as the NAHB/Wells Fargo Housing Market Index fell one point to 45 from a downwardly revised 46 in April. The stall has been in effect since February when the index dropped 10 points. Builders had passed the tipping point of 50 on the 0 to 100 scale in June… Read More ›
One way many builders choose to bolster sales and/or limit cancellations is by providing incentives that sweeten the deal for home buyers. The popularity of these incentives, however, is very much tied to the cycles of the housing industry. A survey of NAHB’s builder members found that 36 percent are not offering any kind of special incentives in October 2013,… Read More ›
The NAHB/Wells Fargo Housing Market Index (HMI) increased four points in February to 29, the highest level since April 2007. The increase marks the fifth consecutive month of an increase for a total of 15 points since recording a 14 in September 2011. All three components also recorded levels not seen since early 2007. The current and future sales components… Read More ›