Builder confidence at historic low

Between December and January, builder confidence fell to a historic low, according to the National Association of Home
Builders/Wells Fargo Housing Market Index released today. Nationwide,
builder confidence fell 1 point between December and January and is
now at 8. Regionally, consumer confidence in the northeast fell 1 point to 10 in January. Any number over 50 indicates that more builders
view sales conditions as “good” rather than “poor.” “Clearly, conditions in
the nation’s housing market aren’t getting any
better, and they aren’t going to get any better until the federal
government takes substantial action to encourage qualified buyers to
get back in the market,” NAHB Chairman Sandy Dunn said in a statement.
TRD