Falling Lumber Costs Push Builder Confidence Higher

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Posted To: MND NewsWire

Builder confidence ticked up 1 point in October, rising to 68. The National Association of Home Builders (NAHB), which produces the NAHB/Wells Fargo Housing Market Index (HMI) says this measure of confidence levels has held in the high 60s since June. “Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment,” said NAHB Chairman Randy Noel. “Builders are also relieved that lumber prices have declined for three straight months from elevated levels earlier this summer, but they need to manage supply-side costs to keep home prices affordable.” The index is derived from a monthly survey that NAHB has been conducting among its new home building members for 30 years. Respondents are asked to give their perceptions of the current market for…(read more)

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