Builders Confident of Healthy Six-Month Outlook for Home Sales
The confidence of home builders in the single-family housing market slipped slightly earlier this month while mortgage interest rates were still slowly climbing, but expectations for housing activity over the next six months remain at healthy levels, according to NAHB’s Housing Market Index (HMI), which was released on Sept. 16.
In terms of housing demand, “builders have had one of the hottest summers ever,” said NAHB President Kent Conine, with mortgage rates bottoming out around mid-year at their lowest levels in more than four decades.
Now that mortgage rates have moved up, builders are adjusting their expectations accordingly, said Conine.
“Even so, there is a strong current of optimism throughout our industry that today’s very healthy activity is sustainable through at least the end of this year,” he said.