Economic fears and building costs tamped down expectations for new home construction.
Older homebuyers are giving builders a boost in confidence.
The latest monthly survey shows builder confidence is soaring.
Labor and supply costs are aiding a loss of confidence among home builders.
The bull stock market is delivering a dose of confidence to the rich.
Is the improving housing market enough to spur consumer spending?
When it comes to consumer confidence in an improving economy, much depends on your personal situation and where you live (especially as it relates to housing and jobs). Though the stock market rally is increasing individual wealth for investors — on paper at least — a strong economy is key for those seeking to amass wealth the traditional way — by building a business.
So what do the numbers tell us? Signs of an improving economic environment include a drop in claims for unemployment benefits, which is leading to a rise in consumer confidence not seen since before 2008. Retail spending also ticked up 1.1 percent in February.
Home builder confidence in new, single-family homes soared to its highest point in four years, according to the National Association of Home Builder’s survey. But it’s still well below what’s considered positive. The monthly index on builder sentiment rose 4 points to 29, its highest point since 2007. Fifty is the point between positive and
Finally someone is feeling optimistic about home sales. Builder sentiment rose for the third straight month, according to the December survey by National Association of Home Builders/Wells Fargo. It’s the first consecutive, three-month upswing since 2009 and is considered a “legitimate, though slowly emerging upward trend,” according to David Crowe, chief economist at National Association