NAHB/Wells Fargo Housing Market Index shows strong growth in October

Posted on October 29, 2020   |  

Sales are expected to increase by 3 points to 88 in next 6 months , October 2019 index was at only 71 Anything above 50 is considered positive This is mainly due record-low interest rates and high demand especially in single housing market However, there are challenges due to shortages of lots, labor, lumber and other key building materials resulting in longer construction times Builders are also struggling to ramp up production, and housing starts and building permits are not able to meet demand.