Builder Confidence Takes a Slight Tumble

Jun 19, 2017

Builder confidence in the market for newly-built single-family homes fell in June by two points to 67 from a downwardly revised May reading of 69 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

All three HMI components recorded two-point drops, with the component gauging current sales at 73 for June, the index charting sales expectations in the next six months at 76 and component measuring buyer traffic at 49. All four regional HMI scores reflected declines: The Midwest and South each fell one point lower to 67 and 70, respectively while the Northeast and West both dropped two points to 46 and 76, respectively.

“As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family sector,” said NAHB Chief Economist Robert Dietz.

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Phil Hall

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Jun 19, 2017

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