Thursday, July 19, 2012

Builder Confidence at 5 Year High

Confidence among U.S. homebuilders is swelling to a five-year high, with many now anticipating that sales of new homes will strengthen this year even as signs point to a slowing economy. 

The NAHB/Wells Fargo builder sentiment index surged six points this month to 35, the highest reading since March 2007, the trade association said Tuesday.

The index, which is based on responses from 318 builders, rose from a reading of 29 last month, marking the largest one-month gain in nearly a decade. It has declined only once between January and July.

Any reading below 50 indicates negative sentiment about the housing market. And the index hasn't reached that level since April 2006, the peak of the housing boom.

This is my "below 50% happy face"
In July, builders say they observed the best sales levels since February 2007. Their outlook for sales in the next six months also brightened to the highest level since March 2007. Turnout by prospective buyers also returned to a level not seen in five years.


Anonymous said...

If younare a suceesful small business owner Obama says it because of what pthers have done for you.

He is a moron who obviously never started or ran a small business. Take all the orders you can. If the @&$@@@ guy is elected for four more years i hope everyone can survive.

By the way don't be too successful or you get to pay the 250 k millionaire tax. God bless america. Facts do not matter anymore. Only thing that matter is the kool aide he is selling.

Builder Bob said...

If you don't want him in office, simply vote for Romney. It really is that easy.