Posts Tagged home building

Builder confidence drops slightly as lumber prices climb

home builder constructing a wooden frame

As the price of lumber increased, builder confidence in the market for newly-constructed, single-family homes dropped slightly in June. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builder confidence fell two points to 68, due in large part to the recent sharp rise of lumber costs in the U.S.; however, the June HMI reflects that overall confidence remains on solid ground.

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Total Housing Starts Down as Multifamily Segment Falls

home builder on frame of house

A drop in multifamily housing starts shrunk overall housing starts 7.0 percent in February, bringing the total to a seasonally adjusted annual rate of 1.24 million units, according to recently released data from the U.S. Department of Housing and Urban Development (HUD) and the Commerce Department. According to a March 16 press release from the National Association of Home Builders (NAHB), multifamily home production dropped 26.1 percent to a seasonally adjusted annual rate of 334,000 units. This comes after exceptionally high figures in January. Meanwhile, the report reveals single-family starts posted a 2.9 percent gain to 902,000 units.

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Builder Confidence Holds Steady in March

new home under construction

Builder confidence in the new, single-family home construction market slipped just one point to a level of 70 in March, according to the latest data from the National Association of Home Builders (NAHB). Despite the small decline in the March NAHB/Wells Fargo Housing Market Index (HMI), the data reflects continued strength in builder confidence for the new homes market across the nation. 

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