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Home Builder Confidence Remains Steady in September
In September, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) revealed the market for newly built single-family homes remained at 67. This unchanged figure reflects steady homebuilder confidence in September.
Randy Noel, NAHB Chairman and a custom home builder from LA, said, “Despite rising affordability concerns, builders continue to report firm demand for housing, especially as millennials and other newcomers enter the market.”
Noel continued, “The recent decline in lumber prices from record-high levels earlier this summer is also a welcome relief, although builders still need to manage construction costs to keep homes competitively priced.”
According to NAHB Chief Economist Robert Dietz, the growing economy and rising incomes along with increasing housing formations mean demand should increase for new single-family homes.
Dietz said, “However, housing affordability is becoming a challenge, as builders face overly burdensome regulations and rising material costs exacerbated by an escalating trade skirmish.” He added interest rates are forecasted to keep soaring.
The HMI index measuring current sales conditions went up one point to 74. Gauging expectations for the upcoming six months rose two points to 74. Buyer traffic remains steady at 49.
A look at three-month moving averages for regional HMI scores show the South was unchanged at 90, the West went down one point to 73, the Midwest fell three points to 59, and the Northeast went up one point to 54.
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In this issue:
Trump Tariffs Expected to Hit U.S. Home Builders Hard
10 Cities Account for 33 Percent of Total Value of U.S. Residential Real Estate
July Foreclosure Starts Up in 44 Percent of U.S. Real Estate Markets
Home Builder Confidence Remains Steady in September
Housing Market Warms Up to Buyers
Mortgage Rates Reach 6-Week High
Most Property Markets in the U.S. Have Recovered from Housing Crash
Toll Brothers Reports Strong Demand for Homes Across the Country
Vacation Rental Buyers Look for Profits Over Pleasure
How to Create Real Estate Signs That Sell
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