Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen. NAHB Chairman Granger MacDonald said that concerns over labor and building materials were "intensified," but said that builder confidence was expected to return to high readings once rebuilding is underway.
New Home Construction Seen As A Possible Solution To Pent Up Demand For Homes
Builder confidence in markets for new homes fell three points in February to a reading of 58. January's reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions.
S & P Case-Shiller Shows Home Prices Down For Third Consecutive Month
Harsh winter weather conditions contributed to home prices falling in January.
FOMC Statement Shows “Moderate” Economic Growth
The Federal Reserve's Federal Open Market Committee met last week and Janet Yellen held her first press conference as Fed chair. According to the FOMC statement released after the meeting, the Fed cited severe winter weather conditions as a reason for slow economic growth in recent months.
NAHB Housing Market Index Ticks Upward
Spring is almost here, and the National Association of Home Builders Housing Market Index (NAHB HMI) thawed slightly in March.
