Builder Confidence Still Fairly Solid Despite Catching Cold

By Jann Swanson

Posted To: MND NewsWire

Bad weather appears to be taking a toll on otherwise solid builder confidence. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), a measure of builder attitudes toward new home construction, was down 2 points to 55 in February after falling 1 point the month before. NAHB Chairman Tom Woods blamed the dip in part the serial snowstorms that have hit much of the nation for the last month. He said, “Overall, builder sentiment remains fairly solid , with this slight downturn largely attributable to the unusually high snow levels across much of the nation. The HMI, sponsored in partnership with Wells Fargo Bank, is derived from a monthly survey of NAHB’s new home builder members. They are asked their perceptions of the current single family home market and their…(read more)

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