Builder Confidence Declines But Remains Solid Amid Rising Risks
Builder confidence in the market for newly-built single-family homes fell two points to 72 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held in a firm range in the low- to mid-70s for the past six months.
"Builder confidence remains solid, although sales expectations for the next six months dropped four points on economic uncertainty stemming from the coronavirus," said NAHB Chairman Dean Mon, a home builder and developer from Shrewsbury, N.J. "Interest rates remain low, and a lack of inventory creates market opportunities for single-family builders."