Homebuilder Confidently The month of July slipped because supply chain and labor challenges have become an issue for single-family homebuilders in the United States.
Accordingly National Association of Home Builders / Wells Fargo Housing Market Index, Builders’ confidence in the market for newly built single-family homes fell by one point to to0 in July – the lowest point in almost a year.
Reuters’ Economists had expected to report an estimated reading of Index 822. This is the lowest level of the index since August 2020.
A reading of Or0 or higher indicates that builders view market conditions as better than the poor.
“Builders are struggling with a shortage of building materials, buildable lots and skilled labor, as well as a challenging regulatory environment,” said Robert Dieze, chief economist at NAHB, in a statement. “This has put upward pressure on home prices and is sidelining many potential home buyers despite strong demand in a low-risk environment.”
Record House prices And a limited supply of homes has reduced home sales, leading fewer customers to believe that now is the right time to buy a home, Reuters said. Although the house is expected to rise from June, a survey of economists told the news. Housing start data will be released on Tuesday.
For the next six months, single-family sales expected expectations jumped to jump1, while the current sales situation dropped one point and reached July 86 for July, according to the NAHB index. According to NABB, the index of prospective buyers has been reduced by 65 points.