Builders See a Turn-Around in Housing Starts on the Horizon

Builders See a Turn-Around in Housing Starts on the Horizon

On top of the solid report on mortgage volume earlier today, comes another hopeful report from the construction industry. The National Association of Home Builders (NAHB) says builder confidence in the new home market has improved for the first time in January after 12 straight months of declines. The NAHB/Wells Fargo Housing Market Index, a measure of builder confidence rose 4 points to 35, an increase which NAHB’s chief economist Robert Dietz said was due in part to a modest drop in interest rates . He added, however, that builder sentiment “remains in bearish territory as builders continue to grapple with elevated construction costs, building material supply chain disruptions, and challenging affordability conditions.” Derived from a monthly survey that NAHB has been