Builder confidence reaches its highest reading since 2005

Miami /
Mar.March 16, 2017 11:15 AM

From the New York website: 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
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Jeff Burns, Nick Rojo, The Bohemian Lake Worth

Affiliated Development’s Lake Worth Beach apartment project approved

Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
arrow_forward_ios

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

Loading...