Builder confidence in newly built single-family homes dropped one point in February, virtually leveling out after solid gains the past year, the National Association of Home Builders/Wells Fargo Housing Market Index shows. Still, the index remains near its highest level since May of 2006.
“This is partly due to ongoing uncertainties about job growth and consumer access to mortgage credit, but it’s also a reflection of the fact that builders are now confronting rising costs for building materials and, in some markets, limited availability of labor and lots as demand for new homes strengthens,” says NAHB Chairman Rick Judson.
The index gauges builder perceptions of single-family home sales and sales expectation for the next six months. A score over 50 in the index indicates more builders view conditions as good than poor. The overall index dropped one point in February to 46. Other measurements: Builders’ confidence over current sales conditions dropped one point to 51 and builders’ sales expectations for the next six months rose one point to 50.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2013/02/20/builder-confidence-slips-slightly
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
