IE Business Daily Business news for the Inland Empire.
Nationally, home builders still like where the housing market is headed.
Confidence among builders of single-family homes fell two points to 55 this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index, which was released Tuesday.
That number has remained essentially unchanged during the past eight months. A confidence index in the mid to high 50s indicates a steady but modest recovery, the association stated.
“Solid job growth, affordable home prices and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward in the year ahead,” said David Crowe, the association’s chief economist, in a statement.
The index, which has been conducted for 30 years, measures builder perception of the housing market and sales expectations for the next six months as “good,” “fair” or “poor.” It also asks builders to rate the possibility of prospective buyers as “high to very high,” “average” or “low to very low.”
