Obstacles facing home builders have caught up with high builder confidence according to the National Association of Home Builders Housing Market Index for November. Builder confidence dropped eight points to an index reading of 60, which was the largest month-to-month drop in builder confidence since 2014. November's decline in builder confidence was greater than the largest month-to-month decline during the housing crisis. Housing Market Index readings over 50 are considered positive, but analysts said that long-standing headwinds caught up with home builders' outlook on housing market conditions and sub-categories used to comprise the overall Housing Market Index reading. Obstacles … [Read more...]
NAHB: Builder Confidence in Housing Market Ticks Up in October
Home builder confidence in national housing market conditions rose one index point for a reading of 68 in October. Readings over 50 indicate that most builders are confident about market conditions. Rolling three-month averages showed mixed results. The Northeastern region gained three points for an index reading of 57; the Midwestern region lost two index points with a reading of 57 and the Southern region posted a gain of one point with a reading of 70. The Western region held steady at 74. Readings for sub-categories of the Housing Market index showed a one-point gain to 74 for current market conditions, Builder confidence in market conditions over the next six months also gained one … [Read more...]
NAHB Housing Market Index Unchanged in September
Home builder confidence in housing market conditions stayed flat in September. The National Association of Home Builders Housing Market Index reported an index reading of 67, which matched expectations and NAHB's housing market reading for August. Analysts cited recent tariffs on building materials as a significant cause of easing builder confidence. While NAHB called September's reading "solid" at 67, the reading was one full point lower than the average reading for 2017 and equaled the lowest builder confidence reading in 2018 to date. Readings over 50 in the Housing Market Index indicate that more builders than fewer are confident in housing market conditions. Components of … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 21st, 2018
Last week's economic releases included the National Association of Home Builders Housing Market Index for May, Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage rates and first-time jobless claims were also released. Home Builder Confidence Rises in May According to the National Association of Home Builders, home builders surveyed indicated higher confidence in housing market conditions for May. April's reading was downwardly revised to an index reading of 68; analysts expected a reading of 69. May's home builder confidence reading was 70. Any reading over 50 indicates that more builders consider housing market conditions to … [Read more...]
