U.S. Home-Builder Sentiment Increased Slightly in September -- NAHB
By Xavier Fontdegloria
Home-builder confidence in the U.S. rose slightly in September
on lower lumber prices and strong housing demand, 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, rose to 76 in September from 75 in
August, ending a three-month decline. 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 75.
--The September data show stability as some building material
cost challenges ease, particularly for softwood lumber, said NAHB
chairman Chuck Fowke. However, delivery times remain long and labor
shortages are expected to persist, he said.
--"The single-family building market has moved off the
unsustainably hot pace of construction of last fall and has reached
a still hot but more stable level of activity," NAHB Chief
Economist Robert Dietz said. The indicator reached a record-high
level of 90 on November 2020.
--The index gauging current sales conditions rose one point, to
82; the component measuring traffic of prospective buyers increased
two points, to 61; and the measure of sales expectations in the
next six months held steady at 81.
Write to Xavier Fontdegloria at firstname.lastname@example.org
(END) Dow Jones Newswires
September 20, 2021 10:14 ET (14:14 GMT)
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