Credit, Lending Influence Builder Confidence


In November, we reported that the National
Association of Home Builders predicts 2011

to be the year of home building recovery with the job market as the
major influencer. Today, NAHB
says that while the job market needs to recover, the credit and lending
needs to recover first.

The NAHB/Wells Fargo Housing Market Index, released this week shows
builder confidence is the same in December as it was in November.

“The steady but low level of the HMI reflects the fact that builders
and consumers have yet to see consistent signs that the economy is
improving,” noted NAHB Chief Economist David Crowe in the release.

NAHB cites the bad job market, increased foreclosures and short sales,
and credit as the major reasons for builder confidence levels. The good
news: Builder confidences is up from fall levels.

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