Homebuilder Confidence...Good News Bad News

How many times have you been told "Well, it's a good news bad news thing we've got here..."? Just two months ago the National Association of Home Builders (NAHB) Fair Housing Market Index set a record with a score of 90 after being stuck at or around 75 before the pandemic struck. In January, it fell a few points to 83, which is still a very strong number as anything over 50 is considered positive, but still the number has fallen for 2 straight months due mainly to supply and labor issues coupled with rising land costs. According to NAHB Chairman Chuck Fowke, "Builders are grappling with supply-side constraints related to lumber and other material costs, a lack of affordable lots and labor shortages that delay delivery times and put upward pressure on home prices", hence the downward confidence score. Also noted was the "limited inventory" that also currently plagues the re-sale and existing homes marketplaces according to NAHB Chief Economist Robert Dietz. 

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