Home builders’ outlook improves — slightly

Home builders grew slightly more optimistic about the current market for new single-family homes this month, according to the latest survey from the National Association of Home Builders and Wells Fargo. The monthly survey’s index — on which anything above 50 indicates a positive outlook — notched up one point from a month earlier, to 16 in November. Meanwhile, the index measuring builders’ future market expectations rose two points over October, to 25. That’s its highest level since the surge from the homebuyer tax credit during the spring. Still, according to NAHB chief economist David Crowe, “the most concerning aspect of the report is that survey participants say they have observed absolutely no improvement in their ability to access credit to build viable new projects. This problem is clearly a roadblock to recovery in many markets.” TRD