The National Association of Home Builders surveys builders each month, asking for their perceptions of the market for newly built homes. Their responses are scored on a scale where any number above 50 indicates more builders view conditions as good than poor. In March, the NAHB’s Housing Market Index rose one point from the month before, increasing to 38. Robert Dietz, NAHB’s chief economist, says uncertainty remains. “While the Freddie Mac 30-year fixed rate mortgage averaged in February … the lowest since August 2022, down payment hurdles and uncertainty from the conflict with Iran and the price of oil will be headwinds going forward,” Dietz said. “The administration’s executive orders issued last week to reduce regulatory burdens associated with home building are a positive step toward increasing attainable housing supply.” Among index components, the gauge of future expectations scored highest, climbing two points to 49 in March. (source)
