BUILDER CONFIDENCE RISES

By Tom Plant   
Posted on Oct 22,2010

Tom Plant's Houston Real Estate Blog


Home builder confidence rose in October for the first time since May.

The National Association of Home Builders/Wells Fargo Housing Market Index rose three points to 16. All three components of the index were up with sales conditions rising three points to 16; six-month sales expectations increasing four points to 23; and buyer traffic climbing two points to 11.

“The new-homes market is finally moving past the lull that occurred when the home buyer tax credits expired and economic growth stalled this summer,” David Crowe, NAHB chief economist, said in a statement. “While challenges such as competition from foreclosures, inaccurate appraisal values, and general consumer uncertainty about the economy and job market continue to be major factors, builders have seen a slight increase in consumers who are considering a home purchase.”

Source: DailyFinance, Joseph Lazzaro (10/18/2010)

Post Category: Home Builders

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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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