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Builder Confidence Hits 6 Year High!

September 21st, 2012 Written By Carol Pawley

According to the National Association of Home builders,  builder confidence in the housing market for newly built, single-family homes increased 3 points from last month’s count, reaching  40 points, the highest level since June 2006.

Barry Rutenberg, NAHB’s chairman, said “This fifth consecutive month of improvement in builder confidence provides further assurance that the housing market is moving in a positive direction, but there’s still a long way to go on the road to recovery and several obstacles are slowing our progress unnecessarily tight credit conditions are preventing many builders from putting crews back to work — which would create needed jobs — and discouraging consumers from pursuing a new-home purchase.”

This month three of the Housing Market index componments saw increases:                                                                                                                                                                                                                  

1.current sales conditions climbed four points to 42

 2.sales expectations in the next six months increased eight points to 51

3. traffic of prospective buyers inched up one point to 31


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