Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 61.3 percent of new and existing homes sold between the beginning of…
Builder confidence in the single-family 55+ housing market dropped 30 points to 38 in the first quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI). This is the lowest reading since the fourth quarter of 2012. The 55+ HMI measures two segments of the 55+ housing market: single-family homes…
The National Association of Home Builders (NAHB) redesigned its Remodeling Market Index (RMI) in the first quarter of 2020 to ease respondent burden and improve its ability to interpret and track industry trends. The first reading for this new RMI series was 48. “The impact of COVID-19 is visible in the remodeling industry,” said NAHB…
Reflecting the growing effects of the COVID-19 pandemic, home builder confidence in the market for newly-built single-family homes plunged 42 points in April to 30, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The decline in April was the largest single monthly change in the history of the…