Home Builders Expect Spring Sales Bump

ConstructionBuilders have an unique perspective on the housing market, demand, and where home sales are headed. And, according to the National Association of Home Builders Housing Market Index, builders’ confidence in the market for newly built, single-family homes is rising. In fact, the most recent reading shows the index up one point to 47 in April from March. The index – which measures confidence on a scale where any number above 50 indicates more builders view conditions as good than poor – found that, though builders’ perception of current conditions and buyer traffic was unchanged from the month before, their expectations for future sales rose four points to 57. Kevin Kelly, NAHB’s chairman, said builder confidence has been in a holding pattern the past three months but, as the spring home buying season gets into full swing and demand increases, builders are expecting sales prospects to improve. Also, all four regions of the country are down, according to the index’s three month moving averages. The West and Midwest show the largest decreases, though both remain near 50. The South and Northeast, on the other hand, both slipped two points, falling to 33 and 47, respectively. More here.

Michael Rosenbaum

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