Home Builder Confidence Suffers Historic Drop

The economic effects of the coronavirus clobbered the home building industry this month, with the National Association of Home Builders reporting its Housing Market Index plunged a record 42 points to its lowest reading in nearly eight years.

The Week Ahead

Consumer Financial Protection Bureau Director Kathy Kraninger appears before the Senate Banking Committee this Tuesday, Mar. 10 to deliver The Bureau’s Semi-Annual Report to Congress.

Commercial/Multifamily Briefs

Enterprise Community Partners and Wells Fargo launched the Housing Affordability Breakthrough Challenge, an initiative designed to spark new housing affordability ideas.

Builder Confidence Ends Year to Highest Reading Since 1999

Builder confidence in the market for newly built single-family homes increased five points to 76 in December off an upwardly revised November reading to its highest reading since June 1999, the National Association of Home Builders reported yesterday.