+
Homebuilder confidence in US drops at 11-month low in July
Real Estate

Homebuilder confidence in US drops at 11-month low in July

Homebuilder confidence in the single-family housing market in the United States of America dropped to its lowest level in July since August 2020, owing to supply and labour shortages.

The NAHB/Wells Fargo Housing Market Index (HMI) fell to 80 from 81 in June. Economists had predicted that the index would rise to 82 points.

A reading of more than 50 indicates that more builders consider market conditions to be favourable.

In November 2020, the index reached a new high of 90.

Builders are facing shortages of building materials, buildable lots, and skilled labour, as well as a difficult regulatory environment, according to Robert Dietz, Chief Economist at the National Association of Home Builders(NAHB).

Even though demand remains strong in a low-inventory environment, he added, this is putting upward pressure on home prices and excluding many prospective home buyers.

Home sales have recently been slowed by rising home prices and a lack of supply, and fewer Americans believe now is a good time to buy.

In July, the NAHB survey of single-family home sales expectations rose two points to 81, while a gauge of current sales conditions dropped one point to 86.

Image Source

Homebuilder confidence in the single-family housing market in the United States of America dropped to its lowest level in July since August 2020, owing to supply and labour shortages. The NAHB/Wells Fargo Housing Market Index (HMI) fell to 80 from 81 in June. Economists had predicted that the index would rise to 82 points. A reading of more than 50 indicates that more builders consider market conditions to be favourable. In November 2020, the index reached a new high of 90. Builders are facing shortages of building materials, buildable lots, and skilled labour, as well as a difficult regulatory environment, according to Robert Dietz, Chief Economist at the National Association of Home Builders(NAHB). Even though demand remains strong in a low-inventory environment, he added, this is putting upward pressure on home prices and excluding many prospective home buyers. Home sales have recently been slowed by rising home prices and a lack of supply, and fewer Americans believe now is a good time to buy. In July, the NAHB survey of single-family home sales expectations rose two points to 81, while a gauge of current sales conditions dropped one point to 86. Image Source

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code