U.S. home builder confidence rises in May

New York /
May.May 15, 2013 02:00 PM

Confidence among U.S. home builders rose in May — a time of rising home prices despite increased costs of building materials — following several months of declines, CNBC reported.

The National Association of Home Builders/Wells Fargo Housing Market Index posted a three-point gain to 44 from the 41 recorded in April. A number over 50 on the index shows that a majority of the 341 builders surveyed see market conditions as good, rather than poor.

“Builders are noting an increased sense of urgency among potential buyers as a result of thinning inventories of homes for sale, continuing affordable mortgage rates and strengthening local economies,” said NAHB Chairman Rick Judson. “This is definitely an encouraging sign even amidst rising challenges with regard to the cost and availability of building materials, lots and labor.”

Each component of the index posted gains in May. For example, current sales conditions gained four points to 48, and expectations for future sales inched up one point to 53, which is its highest number since February 2007. [CNBC]Zachary Kussin


Related Articles

arrow_forward_ios
Lenders are being stingy about granting home equity lines of credit. (iStock)
Home values are up, but just try getting a line of credit
Home values are up, but just try getting a line of credit
From left: Wells Fargo’s Charles Scharf, SL Green's Marc Holliday, Goldman Sachs’ David Solomon and One Vanderbilt (Getty)
Goldman Sachs, Wells Fargo leading $2.25B refi of One Vanderbilt
Goldman Sachs, Wells Fargo leading $2.25B refi of One Vanderbilt
Wells Fargo CEO Charles Scharf (Scharf by Win McNamee/Getty Images; Unsplash)
Borrowers sue Wells Fargo over forbearance policy
Borrowers sue Wells Fargo over forbearance policy
Some of the world’s biggest banks — including Wells Fargo and Deutsche Bank — have engaged in a systematic fraud that allowed them to award borrowers bigger loans than were supported by their true financials (Credit: Alex Gottschalk/DeFodi Images; MANJUNATH KIRAN/AFP via Getty Images)
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
Solly Assa and Cassa Hotel and Residences (Credit: Billy Farrell/Patrick McMullan via Getty Images, Google Maps)
Troubled loan on Cassa Hotel residences in Times Square falls into delinquency
Troubled loan on Cassa Hotel residences in Times Square falls into delinquency
From left: Eagle Lofts at 43-22 Queens Street in Long Island City, 292 North 8th Street in Williamsburg and The Landing at 15 Bridge Park Drive in Brooklyn Heights (Credit: Rockrose Development, Stonehill & Taylor Architects and StreetEasy)
Rockrose’s $350M haul tops March list of outer-borough loans
Rockrose’s $350M haul tops March list of outer-borough loans
10 East 53rd Street and SL Green's Marc Holliday (Credit: TPG Architecture, Sl Green)
SL Green snags $220M refi for Midtown East office tower
SL Green snags $220M refi for Midtown East office tower
New York Life building gets $410M refi
New York Life building gets $410M refi
New York Life building gets $410M refi
arrow_forward_ios

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

Loading...