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Builder Confidence Continues Retreat from 2014 Levels
Monday, March 16, 2015
Builder confidence in the market for newly built, single family homes has declined
to its lowest level in nine months. The
National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index
fell two points to 53 in March, an HPI level last seen in July 2014. In was the third time in as many months that
the HPI has declined, coming off of the 2014 high of 58 posted in the last two
months of the year.
"The drop in builder confidence is
largely attributable to supply chain issues, such as lot and labor shortages as
well as tight underwriting standards," said NAHB Chief Economist David Crowe.
"These obstacles notwithstanding, we are expecting solid gains in the housing
market this year, buoyed by sustained job growth, low mortgage interest rates
and pent-up demand."
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