Builder Optimism Highest Since 2006

Washington, DC, Nov. 19, 2012 --  Builder confidence in the market for single-family homes posted a solid, five-point gain to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November.

This marks the seventh consecutive monthly gain in the confidence gauge and brings it to its highest point since May of 2006.

“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” said NAHB Chairman Barry Rutenberg.

“In view of the tightening supply and other improving conditions, many potential buyers who were on the fence are now motivated to move forward with a purchase in order to take advantage of today’s favorable prices and interest rates.” 

Last year the index was at 19. Readings above 50 indicated that more builders see conditions good than poor.

“At this point, difficult appraisals and tight lending conditions for builders and buyers remain limiting factors for the burgeoning housing recovery, along with shortages of buildable lots that have begun popping up in certain markets,” said NAHB Chief Economist David Crowe.



Other Archived Articles

Domotex Asia Set for March 24-26   Full Article
Shanghai, China, Sept. 12, 2014 -- Domotex Asia/Chinafloor will be held March 24-26 in Shanghai.

Retail Sales Increase Broadly in August   Full Article
Washington, DC, Sept. 12, 2014 -- U.S. retail sales rose 0.6% in August, as consumer bought automobiles and a variety of other goods, according to the Commerce Department.

Consumer Sentiment Highest in More Than a Year   Full Article
Ann Arbor, MI, Sept. 12, 2014 -- U.S. consumer sentiment rose in September to its highest level in more than a year, according to the Thomson Reuters/University of Michigan index.

Greenberg Fund Awards Two Scholarships   Full Article
Manchester, NH, Sept. 12, 2014 -- CCA Global Partners has announced the recipients of two $5,000 scholarships through the Alan Greenberg Scholarship Fund.

Dover Rug & Home Opens Boston Showroom   Full Article
Boston, MA, Sept. 12, 2014 -- Dover Rug & Home has opened a second location in Boston in the Back Bay.

Armstrong Headquarters Gets LEED Recertification   Full Article
Lancaster, PA, Sept. 11, 2014 -- Armstrong World Industries said its corporate headquarters building has been awarded LEED Platinum recertification from the U.S. Green Building Council.

Shaw Contract Names Winners of Design Contest   Full Article
Cartersville, GA, Sept. 11, 2014 -- Shaw Contract Group announced the winners of its annual Design is… competition.

Initial Unemployment Claims Rise Last week   Full Article
Washington, DC, Sept. 11, 2014 -- Initial claims for unemployment benefits rose to 315,000 last week, up from the previous week's revised total of 304,000, according to the Labor Department.

Dal-Tile Holding Groundbreaking for Tennessee Plant   Full Article
Dickson, TN, Sept. 11, 2014 -- Dal-Tile is scheduled to hold an invitation-only groundbreaking ceremony this afternoon for its new $180 million plant in Dickson County, according to the Tennessean newspaper.

Foreclosures Edge Higher in August   Full Article
Irvine, CA, Sept. 11, 2014 -- Foreclosures rose in August the first time in nearly four years, according to tracking firm RealtyTrac.

CFI Presents Awards at Annual Meeting   Full Article
Kansas City, MO, Sept. 11, 2014 -- The Certified Floorcovering Installers recently presented awards at its annual convention.

Tandus Centiva's Ethos Certified Cradle to Cradle   Full Article
Dalton, GA, Sept. 11, 2014 -- Tandus Centiva said it has been Cradle to Cradle Certified Silver for its Ethos modular soft surface products by the Cradle to Cradle Products Innovation Institute.

Wholesale Inventories, Sales Rise in July   Full Article
Washington, DC, Sept. 10, 2014 -- Wholesale inventories ticked up in July by the smallest amount in a year, according to the Commerce Department.

NAHB Praises Legislation to Limit EPA, Army Corps   Full Article
Washington, DC, Sept. 10, 2014 -- The National Association of Home Builders has commended legislation that would limit the authority of the EPA and the U.S. Army Corps of Engineers over "waters of the U.S."

Mortgage Applications Decline Last Week   Full Article
Washington, DC, Sept. 10, 2014 -- Mortgage application volume fell last week as interest rates rose for the first time in four weeks, according to the Mortgage Bankers Association.

Bona Opens Training Center in Dallas   Full Article
Aurora, CO, Sept. 10, 2014 -- Bona US said it has opened a new regional training center in Dallas.

Job Openings Near 13-Year High   Full Article
Washington, DC, Sept. 9, 2014 -- The number of U.S. job openings remained near the highest level in 13 years in July, according to the Labor Deparment in its Job Openings and Labor Turnover survey.

Oriental Weavers Expands Presence at High Point   Full Article
Dalton, GA, Sept. 9, 2014 -- Oriental Weavers said it will open a new showroom and double the size of its High Point presence at the upcoming October market.

Armstrong Adds Installation System to Natural Creations   Full Article
Lancaster, PA, Sept. 9, 2014 -- Armstrong Commercial Flooring has added its luxury vinyl tile installation system called I-Set to its Natural Creations collection.

Mohawk Study Looks at Carpet in Hospital Setting   Full Article
Calhoun, GA, Sept. 9, 2014 -- A Mohawk-funded study shows that carpet tile relieves environmental stressors in hospital settings more effectively than terrazzo and rubber flooring.