Steel Markets

Home Builders Worried About Meeting Spring Demand

Written by Sandy Williams


The confidence level for home builders rose by one point to 47 in the National Association of Home Builders/Wells Fargo Housing Market Index for March. Builders are concerned about meeting demand due to a shortage of buildable lots and difficulty in finding skilled workers. Of additional concern, said said NAHB Chief Economist David Crowe, are rising prices for materials and very low inventory of new homes.

“The March HMI mirrors last month’s sentiment, as builders continued to be affected by poor weather and difficulties in finding lots and labor,” said NAHB Chairman Kevin Kelly.

On the component indexes, current sales conditions rose 1 point to 55 while buyer traffic increased by two points to 33. Sales expectations for the next six months fell one point to 53.

The three-month moving averages by region all fell in March. The regional indexes read as follows: Northeast down 3 points to 35, Midwest down 3 points to 53, South down 4 points to 49, and the West down 2 points to 61.

More information on housing may be found at the NAHB website, www.nahb.org.

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