Builder Confidence Continues Improving In December

December 19, 2012

in News

Builder Confidence Continues Improving In December

Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month in December to a level of 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marked a two-point gain from a slightly revised November reading, and the highest level the index has attained since April of 2006. “Builders across the country are reporting some of the best sales conditions they’ve seen in more than five years, with more serious buyers coming forward and a shrinking number of vacant and foreclosed properties on the market,” observed NAHB Chairman Barry Rutenberg. “While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe. Two of the HMI’s three component indexes – current sales expectations and sales expectations in the next six months – are now above the critical midpoint of 50. [Read this article]

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