Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen. NAHB Chairman Granger MacDonald said that concerns over labor and building materials were “intensified,” but said that builder confidence was expected to return to high readings once rebuilding is underway.
Builder confidence in markets for new homes fell three points in February to a reading of 58. January’s reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions.
Both seasoned homeowners and first-time buyers know making the decision to purchase a new home is not one that is taken lightly.
Randy’s Interview on Here & Now: Here & Now’s Jeremy Hobson checks in with two Realtors about the Real Estate Market now: Randy Courtney in Arizona and Anthony Graham in north Texas. If you missed to Tune in today, listen to the interview now.
Two major indicators of home price trends showed a slowing momentum for home prices in December.