by Calculated Risk on 7/19/2021 10:06:00 AM
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 80, down from 81 in June. Any number above 50 indicates that more builders view sales conditions as good than poor.
Atrong buyer demand helped to offset supply-side challenges relating to building materials, regulation and labor as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.
“Builders continue to grapple with elevated building material prices and supply shortages, particularly the price of oriented strand board, which has skyrocketed more than 500 percent above its January 2020 level,” said NAHB Chairman Chuck Fowke. “We are grateful that the White House heeded our urgent plea to hold a