08/18/2021
Summary - higher material costs and supply chain interruptions have resulted in reduced home building. Back ups in the supply chain and material costs are expected to show relief in the coming months which will return the new home sales to more normal numbers.
Yesterday, the August NAHB home builder confidence index fell 5 points to 75. Here is the breakdown of the components: Current Sales: fell 5 points to 81 Sales Expectations: remained flat at 81 Traffic: Fell 5 points to 60 While this index has been declining, a reading above 50 signals expansion and...