Posted To: MND NewsWire

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) settled back a bit after its 5-point surge in December took it to its highest level since 1999. The Index, a measure of builder confidence in the market for newly constructed homes, dipped 1 point in January to 75, still remaining above that earlier high. NAHB said, “With the Federal Reserve on pause and attractive mortgage rates, the steady rise in single-family construction that began last spring will continue into 2020. However, builders continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes.” The HMI is derived from a monthly survey that NAHB has been conducting for more than 30 years. The association’s new home builder…(read more)

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Source: Mortgage News Daily