one-parent family Buying mood According to data from the National Association of Home Builders, August fell 5 points to 75, the lowest point in more than a year.
The reasons for the decline are construction costs, supply shortages and rising housing prices. This is the biggest drop in home purchase sentiment since July 2020.
Sales fell by 5 points to 81, and prospective buyers also fell by 5 points to 60.Sales are expected to stabilize at 81, according to NAHB’s monthly confidence index.
Of the homes sold between April and June, more than 56% were affordable for families with an income of $79,000. This marks a 5% decline in home sales in the first quarter of 2021, the lowest level of affordability since the first quarter of 2012.
NAHB’s chief economist said: “Although demographic data and interest in buying houses are still solid, higher costs and material access issues have led to a decline in the level of housing construction and even hindered some new home sales.” Robert Dietz.
Dietz also pointed out that the bottleneck should ease in the fall, and the market may begin to return to normal.According to NAHB, the sales of single-family homes are Expected Increase to 81 in the next 6 months.
