London, Monday, 18 April 2022
In April 2022, the NAHB housing market index in the United States dipped to 77 from 79 in March, matching market predictions.
As a steep rise in mortgage rates, continuous supply chain disruptions, elevated home prices, and building expenses continue to destabilise the housing industry, the index fell for the fourth consecutive month to its lowest level since September last year.
The current sales subindex declined 2 points to 85, buyer traffic fell 6 points to 60, and sales expectations for the next six months rose 3 points to 73, after a 10-point loss in March.
"The housing market is at a crossroads," said NAHB Chief Economist Robert Dietz, "as an unanticipated rapid rise in interest rates, rising home prices, and escalating material costs have considerably reduced housing affordability conditions, particularly in the important entry-level market."
(Source: National Association of Home Builders // Edited by: The Decision Maker)