Builder confidence lifts - slightly
February 20th, 2008, 10:43 am · Post a Comment · posted by mistywilliams
Despite continued worries of an economic recession, February has turned out to be a good month for home builders, who have seen more foot traffic through subdivisions in recent weeks.
The latest Housing Market Index from the National Association of Home Builders and Wells Fargo showed a slight up tick this month. The index gauges builder perceptions of current sales, sales expectations for the next six months and buyer interest.
That rise in hope has been reflected in the Valley recently.
Builders say more people are walking into sales offices. But buyers aren’t necessarily biting with some coming to look at houses half a dozen times or more.
Some buyers who have been sitting on the sidelines are now at least investigating their options given improved housing affordability and a wide variety of homes to choose from, said David Seiders, chief economist for the national builders association.
“That said, builders know there’s a difference between people looking and people buying, and their current outlook remains quite subdued,” Seiders said.
