Home Builder Confidence Holds Steady at 16
Home builder confidence as measured by the National Association of Home Builders and Wells Fargo remains unchanged since November at 16, according to Wednesday’s report.
“The steady but low level … reflects the fact that builders and consumers have yet to see consistent signs that the economy is improving,” said NAHB Chief Economist David Crowe.
The current sales condition index remained at 16 and the six-month sales expectation index was unchanged at 25. The buyer traffic measure fell one point to 11.
Home builders were most confident in the Northeast at 24. The South was at 17, the Midwest at 13 and the West at 11.
Source: MarketWatch, Steve Goldstein (12/15/2010)
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Home Builder Grows Its Solar Options
PulteGroup, the nation’s largest home builder, is selling homes in 10 communities that offer solar as a standard or an option, according to Walter Cuculic, the company’s director of sustainability.
“With solar more affordable than ever before, tax credits available for purchasing solar options, and the ability to roll the cost into a home mortgage, solar is a great investment for new home buyers looking to hedge against rising energy costs,” Cuculic says.
So far, all of the Pulte solar communities have been west of the Mississippi, but in June, Pulte will introduce a community in New Jersey.
Typically solar options range in price from $14,000 to $25,000, before local incentives, rebates and tax credits, says Matt Brost, general manager of new homes division for the SunPower Corp.
The typical Pulte solar customer is between the ages of 29 and 45 and committed to doing the environmentally correct thing, the company says.
Source: PulteGroup (06/04/2010)
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Builder Confidence Is Building
Home builder confidence in the housing market rose in September for the third month in a row from 18 to 19, which is the highest level since May 2008, according to the monthly index calculated by the National Association of Home Builders and Wells Fargo.
The index hit a low of 8 in January. Any number below 50 is considered negative.
The NAHB credits the first-time home buyer tax credit for this summer’s market improvement, as well as low interest rates and home prices, says Joe Robson, NAHB’s chair.
The index also projects the strength of the market going forward. That measure fell one point in September to 29 because of the expiring tax credit. In a statement, Robson says, “Builders are concerned about what will keep the market moving once the credit is gone.”
Source: Bloomberg, Bob Willis
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Home Builder Optimism Climbs
Home-builder optimism improved this week with the National Association of Home Builders’ index of member sentiment rising two points to 17, its highest since September 2008.
The report tracks the perceptions of 484 residential builders nationwide. Index readings lower than 50 indicate a predominance of negative sentiment. Still, this increase could be a sign that new-home contractors are seeing improvement in the market.
Source: The Associated Press, Alex Veiga (07/16/2009)
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