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Wed Jan 16, 2013, 10:35 AM

Homebuilder Confidence in U.S. Held in January at Six-Year High

Source: Bloomberg

By Michelle Jamrisko - Jan 16, 2013

Confidence among U.S. homebuilders held in January at the highest level in more than six years, offering the latest evidence that residential real estate will help spur economic growth.

The National Association of Home Builders/Wells Fargo index of builder confidence was 47, matching December’s reading as the highest since April 2006, the Washington-based group reported today. The median forecast of 50 economists projected a reading of 48.

Stronger sales and affordable borrowing costs are driving traffic for lenders such as Wells Fargo & Co. (WFC) Climbing property values and household formation may continue to underpin progress in returning residential real estate to pre-recession levels.

“Fundamentals indicate continued momentum in housing this year,” NAHB Chief Economist David Crowe said in a statement. “However, persistently tight mortgage credit conditions, difficulties in obtaining accurate appraisals and the ongoing stalemate in Washington over critical economic concerns continue to impede the housing recovery.”

Read more: http://www.bloomberg.com/news/2013-01-16/homebuilder-confidence-in-u-s-held-in-january-at-six-year-high.html

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Reply Homebuilder Confidence in U.S. Held in January at Six-Year High (Original post)
Purveyor Jan 2013 OP
BlancheSplanchnik Jan 2013 #1

Response to Purveyor (Original post)

Wed Jan 16, 2013, 12:39 PM

1. Building NEW homes? Good for the economy. Bad for the planet.

bulldoze more land, destroy more habitat, kill off more CO2 eating, Oxygen producing trees.

Uh huh. Good.

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