After soaring to record highs in November, Homebuilder Sentiment rolled over in December, printing 86 against expectations of 88 and down fdrom the November rrecord of 90.
Measure of present single family sales falls to 92 vs 96 last month
Future single family sales gauge falls to 85 vs 89 last month
Prospective buyers traffic measure falls to 73 vs 77 last month
“Builder confidence fell back from historic levels in December, as housing remains a bright spot for a recovering economy,” Robert Dietz, NAHB chief economist, said in statement.
“The issues that have limited housing supply in recent years, including land and material availability and a persistent skilled labor shortage, will continue to place upward pressure on construction costs.”
Still, the ‘if we build it, they will come’ mantra may not be holding up much longer…
The question is – is this the start of the catch-down to homebuyer sentiment?