Homebuilder Confidence in U.S. at Record High Since 2005

 U.S. homebuilder confidence rose for a fourth consecutive month in

September.

Home Builder Confidence in U.S. At Record High Since 2005.
Home Builder Confidence in U.S. At Record High Since 2005.

The NAHB reported today that U.S. homebuilder confidence rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This latest four-point gain brings the index to its highest reading since November of 2005.”Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.David Crowe”While a firming job market is helping to unleash pent-up demand for new homes and contributing to a gradual, upward trend in builder confidence, we are still not seeing much activity from first-time home buyers,” said NAHB Chief Economist David Crowe. “Other factors impeding the pace of the housing recovery include persistently tight credit conditions for consumers and rising costs for materials, lots and labore to 58. –

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