MacRo LTD Blog

Homebuilders have grim view of housing market: NAHB

Here’s a re-post of a relevant Washington Post article from the weekly blast called the Knowledge Edge from Rodgers Consulting:

MacRo_OldSize_BlogPlaceholderHomebuilders have yet to see a turnaround in the housing market after the worst year for new-home sales in a half-century. The National Association of Home Builders said Tuesday that its index of builder sentiment for February remained unchanged for the fourth straight month at 16.

Any reading below 50 indicates negative sentiment about the market. The index hasn’t been above that level since April 2006. Homebuilders are struggling to compete with millions of foreclosures that are forcing home prices down. Last year was also the worst in more than a decade for sales of existing homes.

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