Builder confidence rose for the first time in five months, a sign that builders are starting to see interest from potential buyers. The National Association of Home Builders/Wells Fargo Housing Market Index for October shows builder confidence rose three points to 16. The index gauges builders’ perception of the market for newly built, single-family homes. A number below 50 indicates negative sentiment about market conditions. David Crowe, NAHB’s chief economist, said the new-homes market is finally moving past the lull that occurred after the expiration of the homebuyer tax credit. More here and here.
Theresa Springer’s Blog
Builder Confidence Up For 1st Time In 5 Months
October 18, 2010
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