Posted: 15 Mar 2011 09:51 AM PDT
The National Association of Home Builders had 2 reports of better news. The numbers are still rough enough that it is hard to call it good news, but these days any improvement is worth noting.
While new construction has been definitely hurting since the housing boom, builders are seemingly more confident than they were last month. The hope of spring season sales is infusing the new home builders with a little more confidence. The bad news is that even though the numbers are better, they are still very negative. 50 is the magic number that tells us the industry is feeling confident in the future. The current number is 17.
Secondly the Remodeling Market Index has improved slightly nationally but significantly in the Midwest and the South. That indicates people are more willing to increase expenditures on their homes. Now let me preface this that the numbers have been historically low and declining since the fall of 2005. Some of these repairs may be necessary work that has accumulated.
However, anything that gets these guys working more is great news.
So what does this mean. Like the title says, better news for those in construction. What it does not mean is good news for the industry. There is very little confidence that the next quarter is going to provide work at the levels we have seen in the past and that a recovery is imminent.
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Better News – Builders Confidence Improves And Remodelers Find More Work
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