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Builder Confidence Holds at Record Low12-16-08 | News

Builder Confidence Holds at Record Low

Only the West saw a slight gain in builder confidence in December as the current economic conditions and a worsening job market are worrying signs for home builders.

Builder confidence in the market for newly built single-family homes held at a record low in December, according to the National Association of Home Builders.

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Derived from a monthly survey that NAHB has been conducting for more than 20 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as ?EUR??,,????'?????<

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Two out of four regions posted declining builder confidence readings in December, with the Midwest and South edging down one point and two points, to six and 10, respectively. The Northeast held even with the previous month?EUR??,,????'?????<

Source: NAHB