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Builder Confidence Survey Shows Optimism is Still High
Tuesday, February 18, 2020
Builder confidence dipped a notch in February but still remains at elevated
levels. The National Association of Home Builders (NAHB) says its Housing
Market Index (HMI) which it sponsored with Wells Fargo, edged 1-point lower to
74. Even with this change, the Index remains high. Readings over the last three
months represent the most optimistic outlook on the part of builders since
December 2017. The HMI is the result of a survey conducted by NAHB each month among
its new home builder members. NAHB chief economist Robert Dietz said, "Steady job growth, rising wages and
low interest rates are fueling housing demand in a market that lacks inventory,
particularly at the entry-level. At a time when demand is on the rise,
regulatory constraints along with a shortage of construction workers and a
dearth of lots are hindering the production of affordable housing in local
communities across the nation.
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