According to the National Association of Home Builders/Wells Fargo Housing Market Index, builder confidence fell five points to 17 after two straight months of gains. A number below 50 indicates more builders see sales conditions as poor than good. Bob Jones, chairman of NAHB, said though they expected a temporary pull back in confidence after the expiration of the tax credit, the reduction in consumer activity was more than builders anticipated. The last time the index was over 50 was April 2006. More here and here.
Theresa Springer’s Blog
Builder Confidence Drops After Two Months Of Gains
June 15, 2010
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