Builder Confidence Still Low

 

NAHB Chairman Joe Robson said, ?EUR??,,????'??It?EUR??,,????'???s still too soon to tell how much of an impact that (economic stimulus package) will be, especially as builders find potential buyers are reluctant because of uncertainty about their future job security and the overall economic outlook.?EUR??,,????'?? Image courtesy of www.builderonline.com

Builder confidence in the market for newly built single-family homes remained unchanged in March as economic woes continued to take their toll on potential buyers, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released on March 16. The HMI held steady at 9 in March, marking a fifth consecutive month of single-digit readings.

?EUR??,,????'??The economy continues to be the main drag on home sales activity right now, in terms of consumer confidence across most of the country,?EUR??,,????'?? acknowledged NAHB Chief Economist David Crowe. ?EUR??,,????'??What?EUR??,,????'???s more, home builders report that tight credit conditions are posing a further hurdle, especially for potential first-time buyers, while potential trade-up buyers are finding it very tough to sell their existing homes so they can make a move.?EUR??,,????'?? ?EUR??,,????'??? Courtesy of NAHB