U.S. Homebuilder Sentiment Falls on Storm-Related Supply Concern


Sentiment among America’s homebuilders fell more than forecast in September as companies grew concerned about the cost of construction materials and labor shortages in the wake of Hurricanes Harvey and Irma, according to data Monday from the National Association of Home Builders/Wells Fargo.


  • Housing Market Index fell to 64 (est. 67) from a revised 67 in August
  • Measure of six-month sales outlook dropped 4 points, the most since November 2015, to 73
  • Current sales index declined to 70 from 74, the biggest retreat in nearly three years

Key Takeaways

The pullback in sentiment reflects builders’ heightened concerns about higher prices for materials following Harvey’s widespread damage to properties in southeast Texas and Irma’s landfall in Florida. In addition to rising costs of construction supplies, the industry has also been contending with a shortage of workers and ready-to-build lots…

U.S. Homebuilder Sentiment Falls on Storm-Related Supply Concern

Categories : Real Estate

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