Homebuilders Grow More Confident About Recovery

By
Real Estate Agent with F.C.TuckerEmge Realtors, LLC

Builder confidence inched slightly higher in October, bringing it to its strongest level since June of 2006, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The October gain also marks the sixth consecutive month for increases in the index, which measures builder confidence about the direction of the new-home market.

"Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year," says Barry Rutenberg, NAHB Chairman.

The monthly index measures builder perceptions of current single-family home sales, sales expectations, and buyer traffic.

While builders’ confidence about the recovery continues to improve, housing experts say there are still several challenges ahead for the new-home sector.

"The slight gain in builder confidence this month is an indication that, while still moving forward, the speed at which the housing recovery is proceeding is being moderated by the various constraints such as tight credit, difficult appraisals and more recently, the limited inventory of buildable lots in certain markets," says David Crowe, NAHB chief economist.

Source: National Association of Home Builders

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October 18, 2012 08:35 AM
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About Me The Trentini Team of F.C. Tucker EMGE REALTORS® provides exceptional service to each of their clients as they help them to achieve their real estate goals. With their knowledge, experience and background, both Kathy and Rolando bring one-of-a-kind perspectives to the table during all of their real estate transactions. Their excellent communication skills combined with their passion for real estate allows The Trentini Team to follow through every time with the highest level of service possible. Rolando and Kathy are your premier Evansville and Newburgh, Indiana real estate source. They can help you buy your dream home or sell your current home for the best price possible. To learn more about what The Trentini Team can do you for you, contact us today!