Builders Confidence in Newly Built Single-Family Homes Matches Record High Set in 1988

According to the latest National Association of Home Builders (NAHB) \ Wells Fargo Housing Market Index (HMI) builder’s confidence in the market for newly built single-family homes increased by six points in August to a reading of 78. The HMI now is at its highest reading in the 35-year history of the series and matches a record set in Decembre 1988.  Any reading above 50 indicates that builders see market conditions as favorable. All HMI indices posted gains in August. Single-family construction is benefiting from low interest rates and a noticeable shift in housing demand to suburbs, exurbs and rural markets as renters and buyers seek out more affordable, lower density markets.

 


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.
Original Source:
Builders Confidence in Newly Built Single-Family Homes Matches Record High Set in 1988