New Home Constructions Improved, Builder Confidence Edge Up

22 10 2010

Housing starts improved slightly in September, rising 0.3 percent from the revised August estimate of 608,000, and they were 4.1 percent above the September 2009 rate of 586,000, the U.S. Commerce Department reports. Permits for new construction fell 5.6 percent in September from August to a seasonally adjusted rate of 539,000, and they were 10.9 percent below the September 2009 estimate of 605,000.

Builder confidence has also improved, according to the latest NAHB/Wells Fargo Housing Market Index (HMI). The index rose three points in October, which marks the first gain in five months and returns the index to a level last seen in June 2009. “Builders are starting to see some flickers of interest among potential buyers, and are hopeful that this interest will translate to more sales in the coming months,” says NAHB Chairman Bob Jones.

Source: U.S. Census Bureau

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