Industry News

Builder confidence remains at record low

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Builder confidence remained at a record-low level for the third straight month in December, according to the results of a monthly survey released today by the National Association of Home Builders in conjunction with Wells Fargo. The NAHB/Wells Fargo Housing Market Index stood at 19 in December -- a score below 50 indicates most builders view current and future market conditions as negative, while a score above 50 indicates most builders have a positive outlook. The index score during the past three months is the lowest in the 20-year history of the index. The index score is based on builders' survey responses of "good," "fair" and "poor" to questions about the present state of the market for single-family new-home sales, the volume of traffic from prospective buyers to new homes, and the outlook for single-family new-home sales for the next six months. Brian Catalde, NAHB president, said in a statement, "Builders continue to look for signs of improvement in the ongoing mo...