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    Analysis

    July 10, 2022

    NAHB: Tightening Financial Conditions Slow Housing

    Written by David Schollaert

    Rising inflation and higher mortgage rates are slowing traffic of prospective home buyers and putting a damper on builder sentiment. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), the headline number fell two more points to a level of 67 in June – the lowest HMI reading since June 2020.

    Six consecutive monthly declines for the HMI is a clear sign of a slowing housing market in an environment of high inflation and slow economic growth, the report said.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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