Lot Shortages Dim Builder Confidence

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Posted To: MND NewsWire

Home builder confidence ebbed slightly in March, but according to the National Association of Home Builders, it remains in “strong territory.” NAHB’s Housing Market Index (HMI), which is produced in cooperation with Wells Fargo, dipped to 70 in March, down from February’s downwardly revised (from 72) level of 71. “Builders’ optimism continues to be fueled by growing consumer demand for housing and confidence in the market,” said NAHB Chairman Randy Noel. “However, builders are reporting challenges in finding buildable lots, which could limit their ability to meet this demand.” NAHB conducts a monthly survey among its new home builder members which asks them their perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey…(read more)

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