Posted To: MND NewsWire

Builder confidence in the new home market is finishing 2021 strong despite what the National Association of Home Builders (NAHB) says are inflation concerns and ongoing production bottlenecks. The NAHB/Wells Fargo Housing Market Index (HMI) edged higher for the fourth consecutive month in December. Strong consumer demand and limited existing inventory drove it to 84, 1 point higher than it was in November. This ties with February for the highest reading of the year. NAHB economist Robert Dietz says the most pressing issue for the housing sector remains lack of inventory. Building has increased but the industry faces constraints, namely the cost and availability of materials, labor, and lots. And while 2021 single-family starts are expected to end the year 24 percent higher than the pre-Covid…(read more)

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Source: Mortgage News Daily