National Association Of Home Builders (NAHB) Report Shows Homebuilder Confidence Up

A report released this week by the National Association of Home Builders (NAHB) shows that the confidence of Homebuilder is up from their previous report, and shows the largest level of confidence since May of 2010.

NAHB is projecting that new home sales will increase over the next six months, with the Southern States leading the way. They are also expecting new home sales to increase in the West, stay about the same in the Midwest, but go down slightly in the Northeast. This paints a different picture from what we have been hearing about existing home sales, where the South and West have the weakest regions.

I found the following statement by David Crowe, NAHB Chief Economist, interesting “While large inventories off foreclosed properties continue to plague the most distressed markets and consumer worries about job security and the challenges of selling an existing home remain significant factors, builders are reporting more inquiries and more interest among potential buyers than they have seen in previous months”.

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