Wednesday, October 17, 2018

Homebuilder Sentiment Improves in October as Lumber Prices Fall

U.S. homebuilders continue to face several challenges, including a severe labor shortage, but the cost of lumber is coming down. That has builders feeling better.


A monthly sentiment survey from the National Association of Home Builders rose one point in October to 68. Anything above 50 is considered positive. The index was unchanged from October 2017.

"Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," said NAHB Chairman Randy Noel, a homebuilder from LaPlace, La.

"Builders are also relieved that lumber prices have declined for three straight months from elevated levels earlier this summer, but they need to manage supply-side costs to keep home prices affordable."

Read More

No comments: