By Jann Swanson | Mortgage News Daily
Builder confidence in the market for single family homes slid 2 points again in February to a score of 65 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The index had backed off two points in January as well, after reaching a decades-long high of 69 in December.
Analysts had been expected an increase in the HMI this month. Those surveyed by Econoday had an average expectation of 68 for the index.
NAHB Chairman Granger MacDonald said, “While builders remain optimistic, we are seeing the numbers settling back into a normal range. Regulatory burdens remain a major challenge to our industry, and NAHB looks forward to working with the new Congress and administration to help alleviate some of the pressures that are holding small businesses back and making homes less affordable.”
