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Builder Confidence Index February Of 2024

By
Industry Observer CDRE #01044712

On February 15, 2024, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes increased four points to 48 points in February of 2024.

The HMI component charting buyer traffic rose four points to 33 points, the HMI present sales conditions gained four points to 52 points, and the HMI sales expectations index grew three points 60 points in February of 2024.

The three-month moving averages for regional HMI scores, Northeast higher three points to 57 points, Midwest up two points to 36 points, South jumped five points to 46 points, the West increased three points to 38 points in February of 2024.

NAHB Chief Economist Robert Dietz, stated “But as builders break ground on more homes, lot availability is expected to be a growing concern, along with persistent labor shortages. And as a further reminder that the recovery will be bumpy as buyers remain sensitive to interest rate and construction cost changes, the 10-year Treasury rate is up more than 40 basis points since the beginning of the year.”

For complete more detailed information about NAHB Builder Confidence Index for February of 2024, please click HERE

Posted by

John Pusa

Better way to buy and sell real estate

Office (818) 441-8881

Mobile (818) 441-8881

Comments (8)

Roy Kelley
Retired - Gaithersburg, MD

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

Have a great day!

Mar 01, 2024 07:13 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello John and great information to share with us on Friday.  We can all learn from others here in the Rain like you!

Mar 01, 2024 11:49 AM
John Pusa
Glendale, CA

Hello Roy Kelley you are very welcome, and glad you find this report very helpful to share with everyone. Thank you, and have a great day too. Thanks for the comment.

Mar 01, 2024 04:39 PM
John Pusa
Glendale, CA

Hello Will Hamm glad you find this report very informative to share with everyone on Friday. Thank you, and you are right we can all learn from each others here in the Rain. Thanks for the comment.

Mar 01, 2024 04:42 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With inventory so low, it seems like builders should be very confident, especially if they aren't gouging consumers with their prices, haha.

Mar 02, 2024 04:44 AM
John Pusa
Glendale, CA

Hello Brian England very true, with inventory so low, builders should be very confident, especially if they aren't gouging consumers with their prices, haha. Thanks for the comment.

Mar 02, 2024 02:48 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

The problem with builders and you might share this with Brian England  is inflation  and the high the cost of building is scarry as well... but builders need to have 2 to 3 years for approval process to plan for ... hence they are more cautious since they do not know what the market will look like in two to three years in California, Endre

Mar 04, 2024 10:56 PM
John Pusa
Glendale, CA

Hello Endre Barath, Jr. very true, the problem with builders is inflation  and the high the cost of building is scary as well. But builders need to have 2 to 3 years for approval process to plan for, hence they are more cautious since they do not know what the market will look like in two to three years in California. Thanks for the comment.

Mar 05, 2024 07:17 AM