Housing
Home Builder Confidence at Six-Month Low, Prospects Brighter Though
Published:
Last Updated:
The NAHB’s chairman noted:
Many builders are expressing frustration over being unable to respond to the rising demand for new homes due to difficulties in obtaining construction credit, overly restrictive mortgage lending rules and construction costs that are increasing at a faster pace than appraised values. While sales conditions are generally improving, these challenges are holding back new building and job creation.
Subindexes that measure current sales conditions and sales expectations came in at 45 and 53 in April. The subindex that estimates traffic of prospective buyers fell four points to 30. The reading for sales expectations is the highest since February 2007.
As in March, the NAHB points to a shortage of building lots, a broken supply chain and skilled workers following the housing collapse. The group expects these conditions to recover over time. Uncertainty about the U.S. economy as expressed in consumer sentiment indexes is also likely a factor in the decline in builder confidence.
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.