The challenge for home builders is not on the demand side. Supply-side factors, including rising costs of materials and labor, along with almost-limited land for development, will be the primary constraints on homebuilders in the year ahead.
It is clear that there is a lot of pent-up demand in the housing market, and more single-family inventory is needed to meet that demand, said Bright MLS Chief Economist Lisa Sturtevant.
While builders expect a more favorable regulatory environment after the president-elect is inaugurated, the benefits of that could be offset by broader market economic factors.
After three months of increases in sentiment, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) in December stayed flat compared to last month with a reading of 46.
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