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Re: researcher59 post# 75995

Monday, 08/17/2020 12:31:19 PM

Monday, August 17, 2020 12:31:19 PM

Post# of 113862
Homebuilder confidence index came out this morning tying the record high in 1998. Those lumber mills need to ramp up production!

Washington, DC, August 17, 2020-In a sign that housing continues to lead the economy forward, builder confidence in the market for newly-built single-family homes increased six points to 78 in August, according to the latest NAHB/Wells Fargo Housing Market Index (HMI). The HMI now stands at its highest reading in the 35-year history of the series, matching the record that was set in December 1998.

“The demand for new single-family homes continues to be strong, as low interest rates and a focus on the importance of housing has stoked buyer traffic to all-time highs as measured on the HMI,” said NAHB chairman Chuck Fowke. “However, the V-shaped recovery for housing has produced a staggering increase for lumber prices, which have more than doubled since mid-April. Such cost increases could dampen momentum in the housing market this fall, despite historically low interest rates.”

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