NAHB: Builders cautiously optimistic going into 2014
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index shows cautious optimism going into 2014, with the association’s index rising four points to 58 for December as new construction shows signs of sustained demand.
NAHB's index focuses on the market for new single-family home construction sales, and is calculated looking at three indicators – current sales conditions, sales expectations, and prospective buyer traffic.
"This is definitely an encouraging sign," said NAHB Chairman Rick Judson. "The HMI is up 11 points since December of 2012 and has been above 50 for the past seven months. This indicates that an increasing number of builders have a positive view on where the industry is going."
The rise in builder confidence is shared by outside financial analysts.
Keefe, Bruyette & Woods (KBW), a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector, states in its 2014 real estate forecast that analysts expect continued recovery in the housing market, including purchase volume growth of 5%.
http://www.housingwire.com/articles/28325-new-construction-sales-stoke-builder-confidence
NAHB's index focuses on the market for new single-family home construction sales, and is calculated looking at three indicators – current sales conditions, sales expectations, and prospective buyer traffic.
"This is definitely an encouraging sign," said NAHB Chairman Rick Judson. "The HMI is up 11 points since December of 2012 and has been above 50 for the past seven months. This indicates that an increasing number of builders have a positive view on where the industry is going."
The rise in builder confidence is shared by outside financial analysts.
Keefe, Bruyette & Woods (KBW), a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector, states in its 2014 real estate forecast that analysts expect continued recovery in the housing market, including purchase volume growth of 5%.
http://www.housingwire.com/articles/28325-new-construction-sales-stoke-builder-confidence
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