BY BRAD BECKETT ON APRIL 20, 2021
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), home builder confidence came in at 83 points in April, despite strong buyer traffic and tight supply chains. Any number over 50 indicates that more builders view conditions as good rather than poor. Click here to read more.
In addition while they are forecasting continued growth in single-family construction for 2021, they say it will be a slower rate than 2020. Indeed…
“While mortgage interest rates have trended higher since February and home prices continue to outstrip inflation, housing demand appears to be unwavering for now as buyer traffic reached its highest level since November….NAHB’s forecast is for ongoing growth in single-family construction in 2021, albeit at a lower growth rate than realized in 2020.” Said the NAHB’s Chief Economist Robert Dietz.