August Builder Confidence Survey Holds Steady at Miserable
The good news is that National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for August has come out and it has stabilized. That is good news because this index has been in free fall over the past couple of years.
Of course, the index has stabilized at a level that is below the poor rating they give. If the index goes below 50 it is considered poor, and by my reckoning we are severely below the poor line.
So I am calling the August Builders Confidence at MISERABLE.
Lets just say things have bottomed out at miserable for builders and that the future may be looking brighter.
Two out of three of the HMI’s component indexes posted gains in August, including a one-point rise in the index gauging current sales conditions, to 16, and a two-point uptick in the index gauging sales expectations for the next six months, to 25. The component gauging traffic of prospective buyers remained unchanged, at 12.
Regionally, the Northeast and Midwest each posted gains in builder confidence, with the Northeast up two points to 16 and the Midwest up four points to 14. Meanwhile, the South remained unchanged at 20, and the West, whose new-homes market has been heavily impacted by an upswing in foreclosure sales at cut-rate prices, posted a decline of three points to 11.
via Press Release…
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by Doug Quance on 18 August 2008:
One has to wonder if Humpty Dumpty was considered “stabilized” after his free fall…