- Super Heroes and Royalty Attract Throngs to Block Party IMAGES
- Marshall Fashions & Carpenter Ants at Pullman IMAGES
- Carrolls make major commitment to Marshall University for special projects and scholarships
- WWE returning to Big Sandy Superstore Arena in 2015
- OP-ED: How Prosecutors Think
- "The Interview" Will Open on Limited Screens Christmas Day; Park Place Stadium Schedules it Jan. 2
- CFPB Sues Sprint for Cramming Consumers with Unauthorized Third-Party Charges; Sprint Ignored Complaints from Consumers and Cost Them Tens of Millions of Dollars
- Elegant Elsa Graces Wayne County Fair at Camden Park IMAGE GALLERY
- Herd Tops King, 90-76
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 22, 2014
NAHB: Builder Confidence Treads Water in March, Rising One Point
“The March HMI mirrors last month’s sentiment, as builders continued to be affected by poor weather and difficulties in finding lots and labor,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.
“A number of factors are raising builder concerns over meeting demand for the spring buying season,” said NAHB Chief Economist David Crowe. “These include a shortage of buildable lots and skilled workers, rising materials prices and an extremely low inventory of new homes for sale.”
Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
The index’s components were mixed in March. The component gauging current sales conditions rose one point to 52 and the component measuring buyer traffic increased two points to 33. The component gauging sales expectations in the next six months fell one point to 53.
The three-month moving averages for regional HMI scores all fell in March. The Northeast dropped three points to 35, the Midwest fell three points to 53, the South posted a four-point decline to 49 and the West registered a two-point drop to 61.
Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.