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Weekly Real Estate Market Overview

HOMEBUILDERS OPTIMISTIC THIS SPRING

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REALTOR REPORT

HOME BUILDERS OPTIMISTIC THIS SPRING

A survey of confidence among American homebuilders fell in April but remains optimistic headed into the spring.

The National Association of Home Builders said its housing market index fell by three points to 68 in April. The index reached 71 in March, its strongest reading since June 2005.

In today’s report, the trade group’s chief economist, Robert Dietz, said “there is continued demand for new construction,” but “builders are facing several challenges” including “hefty regulatory costs and ongoing increases in building material prices.”

“Even with this month’s modest drop, builder confidence is on very firm ground, and builders are reporting strong interest among potential home buyers,” NAHB Chairman Granger MacDonald added in a statement.

All three of the index’s components reported losses in April but are maintaining healthy levels. The components gauging current sales conditions fell three points to 74, while the index charting sales expectations over the next six months dropped three points to 75. Lastly, the component measuring buyer traffic fell one point to 52.

Source: CNBC.com

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