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Thursday, November 17, 2011

BUILDER CONFIDENCE UP SLIGHTLY

Confidence among the nation’s new single-family home builders jumped another three points in November according to the National Association of Home Builders/Wells Fargo Housing Market Index, bringing the index to the highest level since May 2010.

The index rose three points to 20 in November, the same increase as in October, which had been revised downward from a four point increase to three. November’s increase was the second consecutive monthly increase for the index.

 
Three of the four regions posted gains with the Midwest posting the largest gain of all the regions, leaping 8 points to 23, while The Northeast and the South posted gains of three points to 17 and two points to 21, respectively.

The West suffered the only decline, six points to 15, after posting an increase of seven points in October.

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