Economy
Builders More Confident About New Housing Market
Written by Sandy Williams
June 17, 2014
Builder confidence in the new built, single-family housing market rose in June. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) registered 49, just a point below the reading of 50 that indicates good building conditions.
“After several months of little fluctuation, a four-point uptick in builder sentiment is a welcome sign and shows some renewed confidence in the industry,” said NAHB Chairman Kevin Kelly. “However, builders are facing strong headwinds, including the limited availability of labor.”
“Consumers are still hesitant, and are waiting for clear signals of full-fledged economic recovery before making a home purchase,” said NAHB Chief Economist David Crowe. “Builders are reacting accordingly, and are moving cautiously in adding inventory.”
Regionally, builder confidence, as indicated by a three-month moving average, rose one point in both the South and Northwest to 59 and 34, respectively. The West was unchanged at 47 and the Midwest dropped a point to 46.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Housing starts slide in August, but interest rate cut should help
Housing starts slowed in the US in August as affordability challenges and cautious builder sentiment weighed on new construction activity.
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.