According to a recent NAHB/Wells Fargo Housing Market Index survey, 76% of builders expect building materials prices to be a major problem in 2013. This is up significantly from 46% in 2012 and 33% in 2011.
Ten northwest cities are listed in the latest National Association of Home Builders/First American Improving Markets Index (IMI). The NAHB/First American IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The northwest cities in the index are Corvallis, Medford, Portland, Bellingham, Kennewick, Longview, Seattle, Spokane, Wenatchee, and Yakima.
More good news for the home building industry. According to the latest NAHB Economics housing and economic forecast, single-family and multifamily construction will see strong growth rates, with remodeling experiencing lesser but still positive growth.
The latest National Association of Home Builders/Wells Fargo Housing Market Index was released today. Builders’ confidence remained at the same level (47) as last month. The index continues to hold at its highest level since April of 2006. The three-month moving average for the West increased by four points to 51.