Nationwide single-family builder confidence drops

New York /
Apr.April 16, 2012 11:00 AM

The National Association of Home Builders’ National Market Index slipped for the first time in seven months, according to April numbers released today, indicating that builder confidence in new construction single-family homes nationwide has receded to January 2012 levels. In April, the housing market index fell 3 points to 25, from 28, after two months of gains.

The index measures buyers’ expectations for the market in the next six months.

“What we’re seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September,” NAHB chief economist David Crowe said in a statement. “This is partly because interest expressed by buyers in the past few months has yet to translate into expected sales activity, but is also reflective of the ongoing challenges that are slowing the housing recovery — particularly tight credit conditions for builders and buyers, competition from foreclosures and problems with obtaining accurate appraisals.”

Regionally, the housing market index gained 4 points to 29 in the Northeast (reaching the highest level since May 2010), was unchanged at 32 in the West, declined 3 points to 24 in the South, and 8 points to 23 in the Midwest. — Guelda Voien


Related Articles

arrow_forward_ios
Single-family rentals are increasingly seen as a more realistic alternative to ownership, given the hot housing market and income inequality. (iStock)
Single-family rentals soaring in hot housing market
Single-family rentals soaring in hot housing market
Vacation home sales took a dip this summer
Vacation home sales took a dip this summer
Vacation home sales took a dip this summer
Ribbon co-founders Shaival Shah and Wei Gan (Ribbon, iStock)
Homebuying startup Ribbon to take on Midwest, West Coast markets
Homebuying startup Ribbon to take on Midwest, West Coast markets
HomeLight Founder and CEO Drew Uher & COO Sumant Sridharan (HomeLight, Uher)
HomeLight lands $100M in Series D equity, valuing company at $1.6B
HomeLight lands $100M in Series D equity, valuing company at $1.6B
Reali CEO Tyler Baldwin (Reali)
Home buying and selling platform Reali raises $250M in Series B round
Home buying and selling platform Reali raises $250M in Series B round
Black homeownership’s Catch-22
Black homeownership’s Catch-22
Black homeownership’s Catch-22
Invitation Homes CEO Dallas Tanner and PulteGroup Ryan Marshall (Invitation Homes, LinkedIn)
Invitation Homes eyes expansion with PulteGroup partnership
Invitation Homes eyes expansion with PulteGroup partnership
Los Angeles, New York and Miami metro areas are in the top 10 of owner-occupied million dollar homes. (iStock)
These metro areas have the most — and fewest — million-dollar homes
These metro areas have the most — and fewest — million-dollar homes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...