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Builder Confidence Index June 2022

By
Industry Observer CDRE #01044712

On June 15, 2022, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes declined two points to 67 points in June of 2022.

The HMI component charting buyer traffic dropped five points to 48 points, the HMI present sales conditions down two points to 61 points, and the HMI sales expectations index lower one points 77 points in June of 2022.

The three-month moving averages for regional HMI scores, Northeast down one point to 71 points, Midwest decreased six points to 56 points, South lost two points to 78 points, the West fell nine points to 74 points in June of 2022.

NAHB Chief Economist Robert Dietz, stated “Residential construction material costs are up 19% year-over-year with cost increases for a variety of building inputs, except for lumber, which has experienced recent declines due to a housing slowdown. On the demand-side of the market, the increase for mortgage rates for the first half of 2022 has priced out a significant number of prospective home buyers, as reflected by the decline for the traffic measure of the HMI.”

For complete more detailed information about NAHB Builder Confidence Index for June of 2022, please HERE

Posted by

John Pusa

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Comments (8)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning John. Material and labor costs along with mortgage rate increases are variables that when combined can be devastating to the industry. Time will tell. Not yet time to panic. Enjoy your day. 

Jul 01, 2022 06:04 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi John - thanks for the update.  Yes, it appears that we have some headwinds like those mentioned by Wayne Martin .

Jul 01, 2022 06:10 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.   Thanks for sharing and enjoy your day!

Jul 01, 2022 07:33 AM
John Pusa
Glendale, CA

Good afternoon Wayne Martin I agree, material and labor costs along with mortgage rate increases are variables combined can be devastating to the industry. You are right, time will tell but not yet time to panic yet. Thank you, enjoy your day too. Thanks for the comment.

Jul 01, 2022 02:10 PM
John Pusa
Glendale, CA

Hello Grant Schneider you are welcome, and glad you find the update very helpful. I agree, it appears that we have some headwinds like those mentioned by Wayne Martin. Thanks for the comment.

Jul 01, 2022 02:12 PM
John Pusa
Glendale, CA

Hello Kristin Johnston - REALTOR® you are welcome, and glad you find the report very informative. Enjoy your day too! Thanks for the comment.

Jul 01, 2022 02:13 PM
Roy Kelley
Retired - Gaithersburg, MD

Good Sunday morning, John.

I hope you are enjoying the weekend.

Jul 03, 2022 05:11 AM
John Pusa
Glendale, CA

Good Sunday morning to you too Roy Kelley. Thank you, and I hope you are enjoying the weekend as well. Thanks for the comment.

Jul 03, 2022 10:33 AM