Home builder confidence down in December, survey shows

Home builder confidence in the market for newly built, single-family
homes decreased one point in December, to the lowest point since June,
according to the latest NAHB/Wells Fargo Housing Market Index, released
today. “As we anticipated, this is shaping up to be a bumpy recovery
period for the housing market,” said David Crowe, chief economist for
NAHB. “While some families may be just starting to factor the expanded
tax credit into their potential homebuying plans, many are hesitating
because of the poor economy. At the same time, tight lending conditions
for both consumers and home builders continue to pose considerable
obstacles on the road to a sustained housing and economic recovery.” TRD