By Free Republic | Created at 2024-11-18 19:20:51 | Updated at 2024-11-25 08:44:27
6 days ago
Builder-confidence index jumps to 7-month high after Trump win
Marketwatch ^ | Nov. 18, 2024 | Aarthi Swaminathan
Posted on 11/18/2024 11:03:11 AM PST by lasereye
Home-builder confidence rose in November, as they expect President-elect Donald Trump’s victory to usher in regulatory relief and pave the way for more construction.
Sentiment rose for the third month in a row, as builders grew more confident in their ability to sell newly built homes.
The National Association of Home Builders’ (NAHB) monthly confidence index rose 3 points, to 46 points in November, the industry group said on Monday.
The November figure exceeded expectations on Wall Street. The NAHB index is also at the highest level since April.
A year ago, the index stood at 34.
Home builders were slowly pulling back on incentives to attract home buyers.
Thirty-one percent of builders were slashing home prices, which was the same share since July.
The three gauges that underpin the overall builder-confidence index were up.
- Builders were upbeat about current sales conditions. The gauge rose 2 points.
- Builders expect an uptick in traffic from prospective buyers. The gauge also rose by 3 points.
- They were also more optimistic about future sales. The gauge rose 7 points.
Home builders are expecting a second Trump administration to offer fewer roadblocks when it comes to the construction of new homes.
This includes a focus on “supply-side solutions to housing affordability including opening federal land for new construction, reducing regulation, and tax incentives for entry-level home builders,” Rafe Jadrosich at BofA Global Research wrote in a Nov. 8 report.
What the NAHB said: “With the elections now in the rearview mirror, builders are expressing increasing confidence that Republicans gaining all the levers of power in Washington will result in significant regulatory relief for the industry that will lead to the construction of more homes and apartments,” Carl Harris, chairman of the NAHB and a custom home builder from Wichita, Kan., said in a statement.
(Excerpt) Read more at marketwatch.com ...
TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: homebuilders; trump
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One of the problems is an insufficient amount of land where government allows builders to construct new homes. Harris's "solution" was a first-time-homebuyer government subsidy.
1 posted on 11/18/2024 11:03:11 AM PST by lasereye
To: lasereye
How about a few lumber companies instead of forest fires.
Lack of land is not a problem...it means building or re-building little communities with a school, a store, a restaurant, a church...the same thing we did 200 years ago. Then it's positioning it for the job market. One of the contractors in my area added a nursery school to his subdivision. What a blessing for those parents.
2 posted on 11/18/2024 11:11:01 AM PST by Sacajaweau
To: lasereye
3 posted on 11/18/2024 11:15:31 AM PST by SaxxonWoods (Black guy upon receiving a MAGA hat: "MURICA!")
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