All three index components declined on the month. Present sales conditions reported the largest drop, falling 3 points to 72. Despite the monthly decline, builder confidence remains at a solid level-just 2 points shy of its cycle high. The reading is consistent with modest strengthening in homebuilding. Confidence Slides in the West
The confidence level among the nation’s homebuilders slipped in June to the lowest level this year and below its six-month average of 70 as tariffs on lumber and other imported materials are.
Home builder confidence dropped slightly for June, with a NAHB Market Index reading of 64, against a 66-reading last month, and a consensus expectation of 67. The Housing Market Index (HMI) is based on a survey of home-building members and is designed to get a read on the market for single-family housing.
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Concerns over the economy were also underscored by other data on Tuesday showing consumer confidence ebbing in March. and bad weather could have contributed to the sharp drop in homebuilding last. Americans’ confidence in the economy slipped this month but remains high compared with historical levels.
The dip in home-builder confidence comes roughly one month before the federal $8,000 first-time home buyer tax credit is set to expire. Builder Confidence Slips a Point, Remains in Solid Territory. Filed in Economics, Home Building by NAHB Now on April 16, 2018 0 Comments.
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The confidence level among the nation’s homebuilders slipped slightly in the first month of 2018 after reaching an 18-year high in December 2017, Builder Confidence Slips in January, Strains.
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U.S. consumer confidence fell in September and home sales dropped to an eight-month low in August due to the impact of Hurricanes Harvey and Irma, supporting the view that the storms would hurt.
US President Donald Trump said both sides would still meet for talks later this month. Wall Street was shut for the Labor.
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Though oil prices pulled back slightly from Monday’s four-month highs, they remained about 15% higher. catching a bid.
The numbers: Construction on new houses jumped 12% in August to the fastest pace in years as the multi-family market.
The confidence level among the nation’s homebuilders slipped slightly in the first month of 2018 after reaching an 18-year high in December 2017, according to the National Association of Home.