• 
  Like
• 
  Follow

Search news    

---

Builder confidence holds steady in August

September 24, 2010 - The general sentiment of most home builders nationwide is that moving activity has been too slow to boost their confidence in the housing market.

The National Association of Home Builders reported that its housing market index, which gauges industry sentiment regarding the real estate industry, remained unchanged from dismal levels in July. The index posted a reading of 13 in July and August - readings below 50 indicate an increasingly pessimistic outlook for new home construction and relocation activity. Consumers, the organization says, are putting off moving plans because of difficulties in the jobs market and low economic confidence. That hesitation is throwing a wrench into many builder's expectations for their businesses.

"In general, builders haven't seen any reason for improved optimism in market conditions over the past month," said NAHB chairman Bob Jones. "If anything, consumer uncertainty has increased, and builders feel their hands are tied until potential home buyers feel more secure about the job market and economy."

To that end, it would appear unemployment continues to hinder many people's moving capabilities. The latest report from the Department of Labor said that for the week ending September 18, 465,000 people filed unemployment benefits claims, a jump of 12,000 from the previous week.
 

Recent Articles

Related Categories