Secret Site Map
Wednesday, August 20, 2014

Home News Home Builders Regain Confidence in February

Home Builders Regain Confidence in February

According to a recently released report by National Association of Home Builders, home builders are regaining their confidence in U.S.

| February 17, 2010

According to a recently released report by National Association of Home Builders, home builders are regaining their confidence in U.S. The February data showed that the confidence is improving as there are more favorable buying conditions and the job market is seeing recovery.

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) was reported 17 in the month of February posting a growth of 2 points from 15 in January. The growth of the HMI beat the expectations as most analysts were expecting the sentiments to be posted at 16. The improved index is reflecting an improvement in builder confidence in the market. The demand for the new homes is increasing mainly because of the low interest rates and federal tax credits.

NAHB Chairman Bob Jones said, “Continued low interest rates, very attractive home prices that appear to have stabilized in many markets, and the availability of the home buyer tax credit make this an opportune time for potential purchasers.”

According to the report two out of three of HMI component indexes also grew in the month of February. The component which estimates the current sales conditions rose two points to 17, while the component estimating the sales expectations in the next six months rose a single point to 27. The component which did not grow was the component estimating the traffic of prospective buyers. It was reported at 12, the same level where it was last month.

Top news

Mosquitoes 'Smell' and 'Taste' DEET and other Repellents

Mosquitoes not only have a sense of smell for certain insect repellents, but they also have a sense of taste for these chemicals, according to scientists at the U.S. Department of Agriculture (USDA).

California Movie Theater Closes Due to Bed Bug Concerns

A bed bug infestation has shut down Lodi Stadium 12 Cinemas Sunday afternoon until Tuesday after concerns from customers were raised on the theater's Facebook page.

European Bee Health Levels Improve, Bayer Reports

New field data from nearly 400,000 bee colonies from 21 countries in Europe and the Mediterranean show that overwintering losses of honey bee colonies – a leading indicator of general bee health – are at their lowest level in years.

Ford Launches New Transit Van

Company brings ‘the pick-up truck of Europe’ stateside to replace its E-series platform.

Bees are No. 1 Bug Killer of Workers, Labor Department Reports

Bees were responsible for more workplace deaths (52) than spiders, wasps and ants combined, according to a new U.S. Labor Department report.