Tuesday, March 16, 2010
The home builder's confidence has been discouraged by the lousy winter weather which has pushed their confidence index down two points from January where it was 15.
There are only a fewer buyers and the prevalence of foreclosures is making it harder to persuade the prospect clients that a new home is the right choice, reveals monthly survey of 477 builders by the National Association of Home Builders.
According to NAHB Chair Bob Jones, the continual flow of distressed properties priced below the cost of production is having an adverse effect on new-home appraisals and also making it tough for builder's customers to sell their existing homes.
More sales would happen later in the year in response to pent-up demand, predicts NAHB Chief Economist David Crowe.
There are only a fewer buyers and the prevalence of foreclosures is making it harder to persuade the prospect clients that a new home is the right choice, reveals monthly survey of 477 builders by the National Association of Home Builders.
According to NAHB Chair Bob Jones, the continual flow of distressed properties priced below the cost of production is having an adverse effect on new-home appraisals and also making it tough for builder's customers to sell their existing homes.
More sales would happen later in the year in response to pent-up demand, predicts NAHB Chief Economist David Crowe.



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