Builder confidence remains near record low
Index shows monthly decline in short-term sales outlook
By Inman News, Tuesday, March 17, 2009.This survey also measured sentiment about market conditions on a scale ranging from zero ("poor") to 10 ("good"), with 5 indicating conditions are "fair."
Asked to rate current sales in a given metro area, the national average was 2 -- which is up from 1.5 in February, 1 in January and 0.5 in December. Sales are typically lowest during the winter months and highest during spring.
Traffic of prospective buyers, meanwhile, declined from a score of 2.5 in February to 2 in March, while sales expectations for single-family, detached new homes rose from 2 in February to 2.5 in March.
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Submitted by Rick Hardman on March 17, 2009 - 12:21pm.
Yep, that sounds about right. I see no indication that things are going to get better anytime soon. I also believe that the tax credit will not help spur home sales, but will merely benefit those who already had planned to buy a home for the 1st time. (not that it is a bad thing, but it just will not accomplish what the government thinks it will)
arkansas real estate
Submitted by Robert A. Hulme on March 17, 2009 - 2:12pm.
First Time home buyers are really coming to the table here in Utah. I am really excited about where things are headed.
Robert A. Hulme
Realtor, GRI, e-PRO
Prudential Utah Real Estate
Loan Officer
Mortgage Xpress
www.OremRealEstate.ws
www.ProvoRealEstate.ws
801-885-2586
Submitted by Richard Stabile Bergen County Real Estate on March 17, 2009 - 4:25pm.
Builder confidence will pick up late in this cycle. The overbuilding has to be absorded. Currently, new homes cost are above existing stock. When that changes, confidence will change. Also, I think before it is over, we must see some failures and consolidation. The market is picking up. Many will not want to go out on a limb for it. However, it is changeing, nothing stays the same, nothing. It is being flooded with money, and that what a commodity like real estate is all about.