David Crowe News
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Following is the text of the Housing Opportunity Index from the National Association of Home Builders.
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Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find.
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Confidence among U.S. homebuilders unexpectedly fell in April for a third month, restrained by rising costs for materials and financing restrictions.
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Paul Laney landed a job two months ago as a home inspector in Woodstock, Georgia, as the city added staff to oversee a growing residential construction industry. “I am really ecstatic about it,” said Laney, 52, who closed his own contracting business in 2007.
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Rob Gray moved his family of four from Massachusetts to Texas, where he bought a new five-bedroom, five-bath, two-fireplace home built by Toll Brothers Inc.
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Mortgage rates in the U.S. rose slightly, holding near record lows as cheap borrowing costs help fuel the housing recovery.
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Confidence among U.S. homebuilders unexpectedly fell for a second month in March, a sign the residential real-estate market will take time to strengthen.
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Construction hiring jumped in February by the most in almost six years, highlighting the benefits to the U.S. economy from a revitalized housing market.
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John Cataneo is working his 20 employees overtime and still can’t keep up with demand from customers who need plumbing repaired after superstorm Sandy. He says he’s hired two new workers and may need more.
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Confidence among U.S. homebuilders held in January at the highest level in more than six years, offering the latest evidence that residential real estate will help spur economic growth.
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