Regulation Rollback Boosts Home-Builder Confidence
Home-builder sentiment reached its highest point in 12 years, propelled by industry approval of early steps by President Donald Trump to roll back regulations. The NAHB’s confidence index surged 6 points to 71, the highest level since June 2005. The tracker of current sales conditions rose 7 points to 78, and the gauge of sales over the coming six months was up 5 points to 78. The measure of prospective buyer traffic leapt 8 points to 54, also the highest since mid-2005. Any reading over 50 signals improvement, and the traffic component is only rarely higher than that. NAHB members applauded an executive order from Trump that would roll back a clean-water rule the organization calls “burdensome.” However, NAHB says, builders still have the same complaints about rising material prices and shortages of lots and labor.