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Builder Confidence Optimistic for the New Year
Published February 16th, 2017

The National Home Builders Association released their monthly Housing Market Index (HMI) survey report  and things are looking optimistic for 2017. While the usual suspects of lot and labor shortages seem to be factoring into the index, they are still confident about the year moving forward.

“NAHB expects solid 10% growth in single-family construction in 2017, adding to the gains of 2016,” said NAHB Chief Economist Robert Dietz. “Concerns going into the year include rising mortgage interest rates as well as a lack of lots and access to labor.”

“Builders begin the year optimistic that a new Congress and administration will help create a better business climate for small businesses, particularly as it relates to streamlining and reforming the regulatory process,” said NAHB Chairman Granger MacDonald.

The HMI, which surveys builder perceptions of the housing market, retreated slightly in January, down a point or two in each category. Overall, the January HMI was two points lower than the December HMI, from 69 to 67. NAHB considers this "firm ground" for the housing market, nationally. Regionally speaking, the west, which includes Utah, held steady at 79 - far above the national average. NAHB has conducted the survey for thirty years and finds it to be highly reliable data.

UTCLC would like to help you make sure that 2017 is your best year yet. Please call us to find out what he have to offer so that you can take advantage of the construction-friendly atmosphere happening in Utah right now. Opportunities are plenty and we are here to help.

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