“Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to a level of 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI),” writes Robert Dietz In a release to the Daily Business News on MHProNews. “Despite the sharp drop, builder sentiment still remains in positive territory. Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices.”
In a separate video aimed more to their own members, NAHB also spends about 15 minutes focusing on the impact of the 2018 midterms on the housing market, which in turn influences builder confidence. So, the NAHB quotes above and below are more geared to the general population.
“For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction. While home price growth accommodated increasing construction costs during this period, rising mortgage interest rates in recent months coupled with the cumulative run-up in pricing has caused housing demand to stall. As a consequence, builders have adopted a more cautious approach to market conditions.”
“The decline of builder confidence should be noted by policymakers. Recent statements on economic conditions have lacked commentary on housing, even as housing affordability has hit a 10-year-low. Given that housing leads the economy, policymakers need to focus more on residential market conditions,” said the NAHB.
The MHVille Takeaways?
HUD Code manufactured housing ought to be surging, not snoozing, in the light of data like this. This is yet another not-to-be-ignored statistical evidence that manufactured housing’s post-production leadership continues to fail small-to-mid-sized firms.
National New HUD Code Manufactured Home Production Data Summary, September 2018 Analysis
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