An index that measures homebuilder confidence dropped in April, largely attributed to the increasing costs of building materials, concerns about the lack of supply of developed lots, and labor shortage, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
The index measures builder perceptions of single-family home sales and sales expectations. In the latest reading for April, builder confidence dropped two points to 42. Any number below 50 indicates that more builders view conditions as poor than good.
“Supply chains for building materials, developed lots, and skilled workers will take some time to re-establish themselves following the recession, and in the meantime builders are feeling squeezed by higher costs and limited availability issues,” says NAHB Chief Economist David Crowe. “That said, builders’ outlook for the next six months has improved due to the low inventory of for-sale homes, rock-bottom mortgage rates, and rising consumer confidence.”
A component in the index that measures builders’ sales expectations in the market for the next six months posted a three-point gain in April, reaching 53 — the highest level since February 2007.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2013/04/16/rising-costs-hamper-builders-confidence
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com