Posted To: MND NewsWire
The National Association of Home Builders (NAHB) said builder confidence in the new home sales market increased in November for the third consecutive month despite the many challenges builders are facing . The NAHB/Wells Fargo Housing Market Index (HMI) rose 3 points from its October level to 83. NAHB chief economist Robert Dietz said low inventories and strong buyer demand are encouraging the association’s new home builder members even as the supply-side challenges persist. “In addition to well publicized concerns over building materials and the national supply chain, labor and building lot access are key constraints for housing supply. Lot availability is at multi-decade lows and the construction industry currently has more than 330,000 open positions. Policymakers need to focus on resolving…(read more)
