“The HMI shows that single-family housing is making solid progress,” said NAHB Chairman Tom Woods. “However, our members continue to tell us that they are concerned about the availability of lots and labor.”
Current sales conditions rose one point to 67, while sales expectations for the next six months dropped two points to 68. Current traffic of potential buyers did rise two points to 47, but remains in negative territory.
NAHB Chief Economist David Crowe expects 1.1 million total housing starts this year, both single-family and multifamily.
As a recap, MHProNews reminds readers housing starts rose 12.8 percent in July over June, but building permits fell 1.9 percent.
Meanwhile, the Mortgage Bankers Association (MBA) reports mortgage applications in advance of minutes of the Federal Reserve meeting fell seven percent in the week ending Sept. 11. ##
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