Builder confidence in the market for newly built single-family homes rose two points in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Bob Nielsen, chairman of NAHB, said the improvement is a positive sign that the outlook isn’t quite as bleak as was feared in June. The component of the survey which gauges sales expectations for the next six months rose seven points and the component measuring current sales conditions was up two points. Gradual improvement and rising expectations are good signs that, despite continued difficulty in the market for newly built homes, consumers are beginning to take advantage of favorable buying conditions. More here.
