RETS PRO REVIEWS - Builder confidence slips as lumber costs soar




WASHINGTON – June 18, 2018 – Builder confidence out there for newly-built single-family properties fell two factors to 68 in June on the Nationwide Affiliation of Residence Builders (NAHB)/Wells Fargo Housing Market Index (HMI). NAHB says the decline was due largely to sharply elevated lumber costs, however general sentiment stays on strong footing.

"Builders are optimistic about housing market circumstances as client demand continues to develop," says NAHB Chairman Randy Noel. "Nevertheless, builders are more and more involved that tariffs positioned on Canadian lumber and different imported merchandise are hurting housing affordability. File-high lumber costs have added practically $9,000 to the value of a brand new single-family house since January 2017."

"Improved financial progress, continued job creation and strong housing demand ought to spur extra single-family building within the months forward," says NAHB Chief Economist Robert Dietz. "Nevertheless, builders do want entry to lumber and different building supplies at cheap prices with a view to present properties at aggressive value factors – notably for the entry-level market the place stock is most wanted."

Derived from a month-to-month survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of present single-family house gross sales and gross sales expectations for the subsequent six months as "good," "honest" or "poor." The survey additionally asks builders to price visitors of potential consumers as "excessive to very excessive," "common" or "low to very low." Scores for every part are then used to calculate a seasonally adjusted index the place any quantity over 50 signifies that extra builders view circumstances nearly as good than poor.

In June's survey, all three HMI indexes inched down a single level. The index measuring present gross sales circumstances fell to 75, the part gauging expectations within the subsequent six months dropped to 76, and the metric charting purchaser visitors edged all the way down to 50.

Wanting on the three-month transferring averages for regional HMI scores, the Northeast rose two factors to 57, whereas the West and Midwest remained unchanged at 76 and 65, respectively. The South fell one level to 71.



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