Builders See Business Getting Better - Just not Right Now

Hot news from AZ Home Help:

Posted To: MND NewsWire

Despite a revival of demand for new homes, builders are facing constraints that are eroding their confidence in the market for new single family homes. The National Association of Home Builders (NAHB) Housing Market Index (HMI) produced jointly with First American Title dropped in its April, along with two of its three component indices. NAHB said that the drop in the composite from 44 to 42 comes as builders face increasing costs for building materials and rising concerns about the supply of developed lots and labor. "Many builders are expressing frustration over being unable to respond to the rising demand for new homes due to difficulties in obtaining construction credit, overly restrictive mortgage lending rules and construction costs that are increasing at a faster pace than appraised...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/04152013_nahb_builder_confidence.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com