The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports that builder confidence in the market for newly built single-family homes declined 2-point in March, after a 1-point increase in February, to a reading of 82. Builder confidence topped at a level of 90 last November and has trended lower as supply-side and demand-side factors have trimmed housing affordability. Any number over 50 indicates that more builders view conditions as good rather than poor.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Higher Material Costs, Interest Rates Lower Builder Sentiment