Despite forecasting a decline for single-family starts this year compared to 2022, National Association of Homebuilders' (NAHB) chief economist Robert Dietz said a turning point for housing appears to lie ahead.
NAHB Chairman Jerry Konter, a home builder and developer from Savannah, Ga., said it also appears that the low point for builder sentiment in this cycle was registered in December, even as many builders continue to use a variety of incentives, including price reductions, to bolster sales.
The NAHB/Wells Fargo Housing Market Index (HMI) – which defines builder confidence in the market for newly-built, single-family homes – in January rose four points to 35 due to a modest drop in interest rates.
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