U.S. Home-Builder Sentiment Rose in October on Strong Demand -NAHB
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 email@example.com
(END) Dow Jones Newswires
October 18, 2021 10:14 ET (14:14 GMT)
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