Even with spike in homebuilder confidence, numbers remains in negative territory

Miami /
Jul.July 17, 2012 02:15 PM

Construction workers apparently have reason for optimism. Builder confidence for newly built, single-family homes has risen a total of six points this month, bringing the total to 35 — the largest one-month gain in more than a decade and the highest level since March 2007, according to a press release issued today by the National Association of Home Builders and Wells Fargo.

Scores above 50 represent positive sentiments on the 1–100 scale. Still, the July number follows a series of upticks. As The Real Deal previously reported, builder confidence reached 29 in May — a 4-point rise from April. June also came in at 29.

“Combined with the upward movement we’ve seen in other key housing indicators over the past six months,” David Crowe, NAHB’s chief economist, said in the release, “the report adds to the growing acknowledgement that housing —though still in a fragile state of recovery — is returning to its more traditional role of leading the economy out of the recession. This is particularly encouraging at a time when other parts of the economy have begun to show softness.”

As The Real Deal previously reported, May saw growth in single-family home sales: a 7.6 percent month-over-month increase and a 19.8 percent year-over-year jump. — Zachary Kussin


Related Articles

arrow_forward_ios
Miami skyline
South Florida home sales keep falling as price growth slows
South Florida home sales keep falling as price growth slows
(Illustration by The Real Deal with Getty)
“It’s not dead, it’s just different.” South Florida resi slowdown persists
“It’s not dead, it’s just different.” South Florida resi slowdown persists
Danielle Hale
Slowdown is “paradoxical:” Realtor.com’s chief economist on Miami housing market’s future
Slowdown is “paradoxical:” Realtor.com’s chief economist on Miami housing market’s future
From left: Ansorg Development's Karl-Ulrich Ansorg, Tulip Group's Kobi Elbaz, Ofir Gabriel, and Amit Kort in front of 234-264 Northeast 34th Street in Miami (Getty, Google Maps, YouTube/Tulip Group Thailand, usbotschaftberlin, Public domain - via Wikimedia Commons)
Inside look at planned Edgewater mixed-use condo tower
Inside look at planned Edgewater mixed-use condo tower
Florida Atlantic University processor Ken Johnson and Brown Harris Stevens' Sheila Rojas (Florida Atlantic University, Brown Harris Stevens, Getty)
Record rent hikes had slowed. Ian may change that
Record rent hikes had slowed. Ian may change that
Ron DeSantis and Peter Thiel (Illustration by The Real Deal with Getty)
Peter Thiel on Florida real estate: “becoming like California”
Peter Thiel on Florida real estate: “becoming like California”
Affiliated Development co-founder Nick Rojo along with 9445 Fontainebleau Boulevard in Miami (left) and the Bohemian apartment project in Lake Worth Beach (right) (Getty Images, Affiliated Development, Google Maps, MSA Architects)
“Slamming on the brakes”: South Florida’s record rent hikes slow
“Slamming on the brakes”: South Florida’s record rent hikes slow
Clockwise from top left: One Sotheby’s Jorge Uribe, Compass' Ida Schwartz, Fortune International Group's Edgardo Defortuna and Royal Palm Companies' Dan Kodsi (Illustration by Kevin Rebong for The Real Deal)
Slowdown hits South Florida’s hot resi market: Here’s what that means
Slowdown hits South Florida’s hot resi market: Here’s what that means
arrow_forward_ios

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

Loading...