Statewide Hurdles Limit Builders Ability to Lead U.S. Economy Beyond COVID-19 Setback

The mood in the homebuilding industry has changed dramatically since April’s National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index reported a 42-point decline in builder confidence. Currently, the NAHB is radiating confidence that housing and its members will help bring the economy back to life. In prepared remarks Dean Mon, NAHB chairman said, “NAHB anticipates that housing will help lead the economy out of this period of uncertainty and is likely to rebound faster than other sectors. Pent-up demand for housing and low-interest rates can pave the way for a potential industry bounce back as we head into the summer months.” Nonetheless, many builders are facing statewide issues that are making that comeback a bit more difficult. From California, to Colorado, from New Jersey to Alabama builders are reporting issues. Read about some of their hurdles in the article below.