Ekonomické zprávy
15.12.2021

U.S. builder confidence surprisingly improves in December

The National Association of Homebuilders (NAHB) announced on Wednesday its housing market index (HMI) increased to 84 in December from 83 in October. This was the highest reading since February.

Economists had forecast the HMI to remain at 83.

A reading over 50 indicates more builders view conditions as good than poor.

Two of three HMI components showed advances in early December. The indicator gauging current sales conditions and the component measuring traffic of prospective buyers rose 1 point each, reaching 90 and 70 respectively. Meanwhile, the measure charting sales expectations in the next six remained unchanged at 84.

NAHB Chairman Chuck Fowke noted preserving challenges with dealing with material delays, finding employees, and forecasting pricing, but added that demand remains strong.

Meanwhile, NAHB Chief Economist Robert Dietz said that lack of inventory continues to be the most pressing issue for the U.S. housing sector. He also noted that higher interest rates in 2022 are seen to put a damper on housing affordability.

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