Builder Confidence: Lower Rates Helping With Affordability Concerns

Posted To: MND NewsWire

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) is flirting with the danger zone. Although stressing that the index remains in positive territory, NAHB said its measure of home builder confidence lost 4 points compared to November, landing at 56. It was the lowest reading since May 2015 and followed an 8-point drop last month. NAHB said the index is reflecting concerns over housing affordability. "We are hearing from builders that consumer demand exists, but that customers are hesitating to make a purchase because of rising home costs," said NAHB Chairman Randy Noel. "However, recent declines in mortgage interest rates should help move the market forward in early 2019." Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB...(read more)

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