Builder confidence still low
November 20th, 2007, 10:40 am · Post a Comment · posted by mistywilliams
Home builders can’t yet see the light at the end of the tunnel.
Builder confidence remained unchanged in November from the month prior, staying at it’s lowest point since 1985, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.
The credit crunch and inventories of excess homes continue to plague builders.
“Many (builders) are reporting that their special sales incentives are having limited success in terms of getting buyers in the door,” association President Brian Catalde said in a statement. Catalde also expressed concerned that media reports about the housing downturn may be dissuading buyers.
The index gauges builder perceptions of current single-family home sales and their expectations for the next six months.
