Posted: 18 Mar 2013 09:29 AM PDT
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) showed a slight dip for January, 2013. The results issued today showed the HMI index slipped 4 points from 51 (optimistic territory) to 47 (negative territory) as increased costs for raw materials and land started hitting the bottom line and the old nemesis, tight credit lending standards, started affecting approvals for new construction.
From NAHB Chairman Rick Judson:
The regional 3 month rolling average for the HMI score also had some interesting regional variances.
To see the raw HMI data, follow this link www.nahb.org/hmi.
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