U.S. Home-Builder Sentiment Rose in October on Strong Demand -NAHB
October 18 2021 - 10:29AM
Dow Jones News
By Xavier Fontdegloria
Confidence among U.S. homebuilders increased in October as
demand remained strong despite growing affordability challenges
stemming from rising material prices and shortages, according to a
measure released Monday by the National Association of Home
Builders. Here are the report's main takeaways:
--The association's housing-market index, which gauges the
single-family housing market, climbed to 80 in October from 76 in
September. A number above 50 indicates that more builders view
conditions as good than poor.
--Economists polled by The Wall Street Journal expected the
indicator to remain unchanged at 76.
--Homebuilders continue to grapple with supply-chain disruptions
and labor shortages that are delaying completion times and putting
upward pressure on building material and home prices, NAHB chairman
Chuck Fowke said.
--"Builders are getting increasingly concerned about
affordability hurdles ahead for most buyers," NAHB Chief Economist
Robert Dietz said.
--The index gauging current sales conditions increased five
points, to 87; the component measuring traffic of prospective
buyers rose four points to 65; and the measure of sales
expectations in the next six months gained three points, to 84.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
October 18, 2021 10:14 ET (14:14 GMT)
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