Builder confidence rises for eighth straight month

New York /
Dec.December 18, 2012 12:30 PM

Builders are increasingly bullish about the newly built single-family home market, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The index of builder confidence rose for the eighth consecutive month, and its current level of 47 is the highest it’s been since April 2006. The trend is indicative of the gradual recovery of the nationwide housing market, said David Crowe, NAHB’s chief economist, “that we expect to continue in 2013.” Scores above 50 represent positive builder sentiments on the scale, which spans 1-100.

Builders were buoyed by an increase in the number of serious home buyers, combined with a decreasing vacancy and foreclosure rate, said NAHB Chairman Barry Rutenberg. He did caution, however, that potential sales were still being hamstrung by financing difficulties. “One thing that is still holding back potential home sales is the difficulty that many families are encountering in getting qualified for a mortgage due to today’s overly stringent lending standards,” he said. —Hiten Samtani


Related Articles

arrow_forward_ios
A recent study that found 1 in 10 Black homeowners returned to renting between 1984 and 2017 (iStock)

Black homeowners twice as likely to lose homes and return to renting: Report

Black homeowners twice as likely to lose homes and return to renting: Report
(iStock)

US home sales rose again as inventory hit all-time low

US home sales rose again as inventory hit all-time low
Housing starts rose almost 5% last month

Housing starts rose almost 5% last month

Housing starts rose almost 5% last month
The increase put an end to the “recent slump” that gripped the purchase market over the past seven weeks (iStock)

Over the slump? Home-purchase mortgages jump

Over the slump? Home-purchase mortgages jump
(Getty, iStock)

Homebuilder confidence soars to another record high

Homebuilder confidence soars to another record high
In October, Redfin agents handled a bidding war in 56.8 percent of home sales (iStock)

More than 50% of home sales see bidding wars: Redfin

More than 50% of home sales see bidding wars: Redfin
NAR president Vince Malta (NAR, iStock)

NAR amends code of ethics to ban public hate speech

NAR amends code of ethics to ban public hate speech
State Sen. Michael Gianaris and President-elect Joe Biden (Getty)

Michael Gianaris to President-elect Biden: Cancel rent

Michael Gianaris to President-elect Biden: Cancel rent
arrow_forward_ios

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

Loading...