Builder Confidence Rises

Home builder confidence rose in October for the first time since May. 

The National Association of Home Builders/Wells Fargo Housing Market Index rose three points to 16. All three components of the index were up with sales conditions rising three points to 16; six-month sales expectations increasing four points to 23; and buyer traffic climbing two points to 11. 

“The new-homes market is finally moving past the lull that occurred when the home buyer tax credits expired and economic growth stalled this summer,” David Crowe, NAHB chief economist, said in a statement. “While challenges such as competition from foreclosures, inaccurate appraisal values, and general consumer uncertainty about the economy and job market continue to be major factors, builders have seen a slight increase in consumers who are considering a home purchase.” 

Source: DailyFinance, Joseph Lazzaro (10/18/2010)

Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans & Vols Fan, Nashvillian... let's connect on Instagram, LinkedIn, Pinterest adn Twitter. Learn more about me at http://www.bargers-solutions.com/about-me

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