Builder confidence reaches its highest reading since 2005

The index jumped 6 points this month to a level of 71

New York /
Mar.March 16, 2017 09:45 AM

The index measuring builder confidence for the single-family home market in the United States this month jumped to its highest reading since June 2005, according to the National Association of Home builders.

During the month of March, the index reached a level of 71, the Wall Street Journal reported. A reading above 50 suggests that more builders see the conditions as good rather than poor, according to the paper.

“Builders are buoyed by President Trump’s actions on regulatory reform,” NAHB Chairman Granger MacDonald told the newspaper.

Builder confidence also spiked in December, which was attributed to a post-election bump at the the time.  In January, confidence dipped amid concerns about rising interest rates, falling demand, the dwindling number of vacant lots and labor shortages.

Yesterday, the Federal Reserve raised its benchmark interest rate to a range between 0.75 and 1 percent, and officials indicated they expect to raise rates at least twice more this year.

Builder confidence is now at its highest level since the peak of the housing bubble, according to the newspaper. [WSJ]Miriam Hall


Related Articles

arrow_forward_ios
Rendering of 300 Huntington Street (Monadnock Development, iStock)
No parking? No problem for Monadnock project in Gowanus
No parking? No problem for Monadnock project in Gowanus
(iStock/Illustration by Kevin Rebong for The Real Deal)
These are real estate executives’ worst worries for 2021
These are real estate executives’ worst worries for 2021
Meredith Marshall (Photo by Emily Assiran)
“We need more housing”: Q&A with BRP Companies’ Meredith Marshall
“We need more housing”: Q&A with BRP Companies’ Meredith Marshall
(iStock/Photo Illustration by Kevin Rebong for The Real Deal)
Dubious gentrification study will backfire on New York City
Dubious gentrification study will backfire on New York City
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
227 Grand Street in Williamsburg, and the Tel Aviv Stock Exchange (far left)
“I suppose a lot of people have a full stomach from what he did:” Inside Yoel Goldman’s very bad year
“I suppose a lot of people have a full stomach from what he did:” Inside Yoel Goldman’s very bad year
The newest plan for the New York Wheel is 210 feet shorter than the 2018 plans. (Cosentini Associates, Getty)
Honey, I shrunk the Wheel: Smaller ride planned for Staten Island
Honey, I shrunk the Wheel: Smaller ride planned for Staten Island
Modell's at 360 Fulton Street, Brooklyn (Google Maps)
Former Modell’s site in Downtown Brooklyn up for sale
Former Modell’s site in Downtown Brooklyn up for sale
arrow_forward_ios

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

Loading...