The National Association of Home Builders (NAHB) said
builder confidence in the new home sales market increased in November for the
third consecutive month despite the many challenges builders are facing. The
NAHB/Wells Fargo Housing Market Index (HMI) rose 3 points from its October
level to 83. NAHB chief economist Robert Dietz said low inventories
and strong buyer demand are encouraging the association’s new home builder
members even as the supply-side challenges persist. “In addition to well
publicized concerns over building materials and the national supply chain,
labor and building lot access are key constraints for housing supply. Lot
availability is at multi-decade lows and the construction industry currently
has more than 330,000 open positions. Policymakers need to focus on resolving
these issues to help builders produce more housing to meet strong market demand,”
he said.

 

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.