Builder Confidence Holds Steady as Virus Fears Shake Markets

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Posted To: MND NewsWire

Builder confidence slipped slightly in March according to the National Association of Home Builders (NAHB), but there was one huge caveat. The monthly survey the association conducts among its new home builder members was partially (about 50 percent) complete prior to March 4. The mandatory shutdowns, and the worst of the stock market collapse had yet to happen. That said, the NAHB/Wells Fargo Housing Market Index fell two point this month to 72. NHBA notes that the index levels have held firm in the low- to mid-70 range for the last six months. The survey, which NAHB has been running for over 30 years, asks for 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…(read more)

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