Builder confidence still near bottom, per NAHB report

david_crowe_NAHB economic RealDeal posted Daily Business News Manufactured Home Marking Sales Management MHProNews.comMarketwatch reports The National Association of Home Builders/Wells Fargo home market index remained at 15 in August. Readings over 50 are considered “good,” which the NAHB report hasn’t had since April 2006. Two of the three components, current sales conditions and traffic of prospective buyers, inched higher, but the component measuring sales expectations for the next six months declined two points. “The uncertain economic climate and concerns about job security are discouraging many potential buyers from exploring a home purchase at this time,” said NAHB Chief Economist David Crowe in a statement. Foreclosures and short sales kpet the price gap between new and existing homes high in June. The median new single-family home cost $235,200, but the median existing single-family home sold for $184,600, per Commerce Department and the National Association of Realtors data.

(Photo credit: RealDeal)


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