The housing market has continued to be a bright spot in the United States economy, which was hit very hard by the pandemic. Despite the significant drop in economic activity and the spike in unemployment that occurred during March and April, housing numbers continue to progress positively. The latest NAHB/Wells Fargo Housing Market Index revealed that builder confidence in the market for newly-built single-family homes hit its highest mark ever at 83 as it saw an increase of five points throughout August.

 

NAHB chief economist Robert Dietz provided insight into the analysis of those numbers. He explained, "the suburban shift for home building is keeping builders busy, supported on the demand side by low-interest rates. In another sign of this growing trend, builders in other parts of the country have reported receiving calls from customers in high-density markets asking about relocating."

To read more about the housing market and the NAHB/Wells Fargo Housing Market Index, click here: http://nahbnow.com/2020/09/builder-confidence-soars-to-an-all-time-high-lumber-risks-remain/