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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  September 21, 2010  |   Builder Confidence Stays in the Cellar
Home builder confidence is staying at 13 in September, the same level as it was in August. This was the lowest level in the last 18 months for the National Association of Home Builders’ monthly index of builder confidence.

"In general, builders haven't seen any reason for improved optimism in market conditions over the past month," said Bob Jones, president of Robert R. Jones Homes in Bloomfield Hills, Mich., and chair of NAHB. "If anything, consumer uncertainty has increased, and builders feel their hands are tied until potential home buyers feel more secure about the job market and economy."

Any reading below 50 is considered negative.

Source: The Associated Press, Alan Zibel (09/20/2010)

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