Builder Confidence Index November 2023

By
Industry Observer CDRE #01044712

On November 16, 2023, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes declined six points to 34 points in November of 2022 from 40 points in October of 2023.

The HMI component charting present sales conditions down six points to 40 points, the HMI buyer traffic lower five points to 21 points, and the HMI sales expectations index decreased six points to 39 points in November of 2023.

The three-month moving averages for regional HMI scores, South dropped seven points at 42 points, the West fell six points to 35 points, Northeast lost one point at 49 points, Midwest down three points to 35 points in November of 2023.

NAHB Chief Economist Robert Dietz, stated “In particular, the 10-year Treasury rate moved back to the 4.5% range for the first time since late September, which will help bring mortgage rates close to or below 7.5%. Given the lack of existing home inventory, somewhat lower mortgage rates will price-in housing demand and likely set the stage for improved builder views of market conditions in December.”

For complete more detailed information about NAHB Builder Confidence Index for November of 2023, please click HERE

Posted by

John Pusa

Better way to buy and sell real estate

Office (818) 441-8881

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Comments (10)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Saturday John and thank you for sharing this information with us here in the Rain.  Hope you are getting into the Holiday spirit

 

Dec 02, 2023 09:34 AM
John Pusa
Glendale, CA

Hello Will Hamm thank you and Happy Saturday to you too. You are welcome, and glad you find this report very information share with everyone here in the Rain. Thank you, Hope you are getting into the Holiday spirit as well. Thanks for the comment.

Dec 02, 2023 02:57 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John Pusa  this is one area I watch very closely since I have right now 14 land listings... and I have noticed fewer inquiries on my listings, which confirm your post, Endre

Dec 02, 2023 09:56 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

My confidence in builders is usually lower than their confidence to sell their homes, haha.

Dec 03, 2023 04:33 AM
John Pusa
Glendale, CA

Hello Endre Barath, Jr. I agree, you need to watch this is one area very closely since you have right now 14 land listings, and you noticed fewer inquiries on your listings, which confirm my post. Thanks for the comment.

Dec 03, 2023 08:37 AM
John Pusa
Glendale, CA

Hello Brian England good to know that your confidence in builders is usually lower than their confidence to sell their homes, haha. Thanks for the comment.

Dec 03, 2023 08:38 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, John, for sharing this report.

Have a great day and a very productive week.

Dec 03, 2023 11:42 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Knowing what's happening in the new home markets helps to better serve clients, John! Thank you for sharing the information.

Dec 03, 2023 12:37 PM
John Pusa
Glendale, CA

Hello Roy, you are welcome and glad you find the report very helpful. Thank you, have a great day and productive week too. Thanks for the comment.

Dec 03, 2023 08:03 PM
John Pusa
Glendale, CA

Hello Wanda, very true knowing what's happening in the new home markets helps to better serve the clients. Thanks for the comment.

Dec 03, 2023 08:06 PM