March's HMI marks the highest reading of builder optimism since November of 2000 and indicates significant strength remains in the single-family housing market. However, the HMI is still 18 points below its late 1998 peak and is well below the average of the last three years. The HMI is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years. Scores for responses to each component are used to calculate a seasonally adjusted overall index, where any number over 50 indicates that more builders view sales conditions as good than poor. While significant strength remains in the overall housing market, builders are perceiving a bit more hesitancy among potential buyers.
People are out there looking, but some are less likely to commit.
Estimates by the Census Bureau have shown that increases in home prices of that magnitude price 300,000 households out of the market for purchasing a new home. Such a claim cannot be justified by looking at the facts objectively, Smith says. If a countervailing duty is filed, let it move forward in an open and fair manner as prescribed under international trade law. We feel confident we will win the case on the facts. Copyright 2000 by Building Systems Magazine .