Builder Confidence Steady in December After 3 Months Of Gains

The National Association of Home Builders (NAHB) today released it's Builder Confidence Index for December Each month NAHB asks its members to describe their current perceptions of the market for new homes, their projections for six months in the future, and their measure of the current level of buyer traffic. From the responses, which are given along a continuum of poor to good in the first two instances and very low to very high in the third, NAHB constructs the NAHB/Wells Fargo Housing Market Index (HMI). A score below 50 on any of the individual questions/components or the composite index indicates that more builders have a negative attitude toward the market than a positive one. The overall confidence composite was changed at an index leve of 16. This follows three straight months of modest...(read more)

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Source: http://www.mortgagenewsdaily.com/12152010_builder_confidence_steady_in_december_after_3_months_of_gains.asp

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