Reflecting the growing effects of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes plunged 42 points in April to 30, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. The decline in April was the largest single monthly change in the history of the index and marks the lowest builder confidence reading since June 2012. It is also the first time…
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Housing Starts Relatively Flat in May
Total housing starts posted a 0.9% decrease in May (1.269 million units) compared to an upwardly revised April estimate of 1.281 million units, according to the joint data release from the Census Bureau and HUD. Relative to May 2018, total starts are 4.7% below the annual pace of 1.332 million units.
Read MoreHousing Starts Drop in December
With the delayed December data now published, the pace of single-family starts declined for the fourth consecutive month as housing affordability concerns weighed on the home construction market at the end of 2018. However, home building posted gains in 2018 relative to 2017. Total single-family and apartment construction starts were up 3.6 percent for the year, according to the joint data release…
Read MoreSingle-Family Housing Starts Weak, Especially in the West
The pace of single-family housing starts declined for the third consecutive month as housing affordability concerns continue to weigh on the home construction market. Total starts posted a 3.2 percent increase due to gains for multifamily development. Total single-family and apartment construction starts are up 5.1 percent on a year-to-date basis, according to joint data released from the Census Bureau and Department…
Read MoreBuilder Confidence Rises Four Points in June
Builder confidence in the market for newly built, single-family homes rose four points in June to reach a level of 49 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). It remains one point shy of the threshold for what is considered good building conditions.
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