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Builder Confidence Sets a New Record Once Again
Monday, October 19, 2020
For only the second time in its 35-year history, the
National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index
(HMI) topped 80 this month. The first time was in September. The index, a
measure of builder confidence in the market for newly built single-family homes
increased two points to 85, breaking the previous high of 83 set last month. "Traffic remains high and record-low interest rates are keeping demand
strong as the concept of 'home' has taken on renewed importance for work, study
and other purposes in the Covid era," said NAHB Chairman Chuck Fowke. "However,
it is becoming increasingly challenging to build affordable homes as shortages
of lots, labor, lumber and other key building materials are lengthening
construction times."
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