Mortgage Daily Logo

Home Builder Confidence Slips But Still Strong

Mortgage News

Optimism among the nation’s home builders slipped in the first month of the new year as buyer traffic wained. Sill, the sector remains very optimistic about the rest of this year.

This month, the Housing Market Index came in at 72. The index reflects home builders’ perceptions of current buyer traffic, current sales and expectations for the next six months.

Although the index declined two points from the 18-year high reached in December, it was still five points higher than in January 2017.

An index above 50 indicates there are more builders who
view current conditions as good than those who view them as poor, according to the National Association of Home Builders and Wells Fargo, which jointly released the report Wednesday.

“Builders are confident that changes to the tax code will promote the small business sector and boost broader economic growth,” NAHB Chairman Randy Noel said in the report. “Our members are excited about the year ahead, even as they continue to face building material price increases and shortages of labor and lots.”

Among three index components, the one measuring current buyer traffic was 54, falling from the prior month by four points — the most of any component. A one-point drop left the index
gauging current sales conditions at 79 and the component charting sales expectations for the next six months at 78.

In the South, the three-month moving average for the HMI was 73, up one point from the preceding month, The Midwest rose a point to 70, and the West was up two points to 81. A five-point gain left the Northeast at 59.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam