Builders remain confident in the market for single-family homes with the National Home Builders’ Association / Wells Fargo Housing Market Index down 2 points to 67 in June
Builders remain confident in the market for single-family homes with the National Home Builders’ Association / Wells Fargo Housing Market Index down 2 points to 67 in June.
The index remains at a health level despite its three components – current activity; outlook for the next 6 months; and prospective buyers’ traffic – all slipping slightly.
“As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family sector,” said NAHB Chief Economist Robert Dietz.
By region, the Midwest and South saw a 1 point drop while the West and Northeast were both down by 2 points.
Overall, the index is considered solid by the NAHB, continuing the theme of 2017 so far.
“Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.
The index remains at a health level despite its three components – current activity; outlook for the next 6 months; and prospective buyers’ traffic – all slipping slightly.
“As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family sector,” said NAHB Chief Economist Robert Dietz.
By region, the Midwest and South saw a 1 point drop while the West and Northeast were both down by 2 points.
Overall, the index is considered solid by the NAHB, continuing the theme of 2017 so far.
“Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.
