Sunday, February 26, 2012

BUILDER CONFIDENCE UP IN FEBRUARY

Home builders are confident the market is picking up for new single-family homes, despite reports of increasing mortgage delinquencies and decreasing mortgage applications. Builder confidence increased for the fifth consecutive month in February.

Positive builder sentiment increased to 29, up from 25 in January. A score of 50 or more indicates more builders view conditions as "good" rather than "poor."

Economists are predicting about 628,000 new  homes this year which is still far below what is needed for a healthy building industry but it's better than the past 6 years.

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