Homebuilder confidence in the United States increased in August, for the third consecutive month, matching its record high, data showed on Monday.<\/p>\n\n\n\n
The National Association of Home Builders\/Wells Fargo Housing Market Index (HMI) increased by 6 points to 78, exceeding market expectations and matching its all-time high, which was recorded in 1998.<\/p>\n\n\n\n
The reading is a sign that housing continues to lead the economy forward, according to the National Association of Home Builders.<\/p>\n\n\n\n
\u201cThe demand for new single-family homes continues to be strong, as low interest rates and a focus on the importance of housing has stoked buyer traffic to all-time highs as measured on the HMI.<\/p>
\u201cHowever, the V-shaped recovery for housing has produced a staggering increase for lumber prices, which have more than doubled since mid-April. Such cost increases could dampen momentum in the housing market this fall, despite historically low interest rates,\u201d<\/p>said NAHB Chairman Chuck Fowke<\/cite><\/blockquote>\n\n\n\n
<\/p>\n\n\n\n
\u201cHousing has clearly been a bright spot during the pandemic and the sharp rebound in builder confidence over the summer has led NAHB to upgrade its forecast for single-family starts, which are now projected to show only a slight decline for 2020.<\/p>
\u201cSingle-family construction is benefiting from low interest rates and a noticeable suburban shift in housing demand to suburbs, exurbs and rural markets as renters and buyers seek out more affordable, lower density markets,”<\/p>said NAHB Chief Economist Robert Dietz.<\/cite><\/blockquote>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Homebuilder confidence in the United States increased in August, for the third consecutive month, matching its record high, data showed on Monday. The National Association of Home Builders\/Wells Fargo Housing Market Index (HMI) increased by 6 points to 78, exceeding market expectations and matching its all-time high, which was recorded in 1998. The reading is …<\/p>\n","protected":false},"author":10,"featured_media":32045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4707,36],"tags":[7129,6858],"class_list":["post-32779","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-breaking-news","category-market-updates","tag-homebuilder-confidence","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=32779"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32779\/revisions"}],"predecessor-version":[{"id":32783,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32779\/revisions\/32783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32045"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=32779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=32779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=32779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}