Washington, DC-According to the National Association of Home Builders, despite inflation concerns and continued production bottlenecks, due to strong consumer demand and limited existing inventories, builders’ confidence rose slightly for the fourth consecutive month in December .
According to the NAHB/Wells Fargo Housing Market Index (HMI) released today, the sentiment of builders in the new single-family residential market rose by one percentage point to 84.
NAHB Chairman Chuck Fowke said: “While demand remains strong, finding workers, predicting pricing and dealing with major delays remains a challenge.”
“The most pressing problem in the real estate industry is still insufficient inventory,” said Robert Dietz, chief economist of NAHB, based in Washington, DC. “There has been an increase in construction, but the industry is facing constraints, namely the cost/availability of materials, labor, and land. Although the rate of single-family housing starts in 2021 is expected to be 24% higher than the level before the COVID-19 pandemic in 2019, We expect that rising interest rates in 2022 will curb housing affordability.”
Speak your opinion! This website requires you to log in or register to post comments. No comments have been added yet. Want to start a conversation?
Post time: Dec-20-2021