Builder Confidence Slides Off 12-Year High


Posted To: MND NewsWire

The Housing Market Index (HMI) backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67. The National Association of Homebuilders (NAHB)/Wells Fargo index, which measures builder confidence in the new home market, had gained 7 points (now revised down to 6) in December to reach its highest level since July 2005. According to NAHB Chairman Granger MacDonald, “Builders begin the year optimistic that a new Congress and administration will help create a better business climate for small businesses, particularly as it relates to streamlining and reforming the regulatory process.” “NAHB expects solid 10 percent growth in single-family construction in 2017, adding to the gains of 2016,” said NAHB Chief Economist Robert Dietz. “Concerns going into the…(read more)

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