[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Immediate Use of Ivermectin Medicine Globally Can End COVID-19 Pandemic: Scientists

COVID Fraud – Lawyers & Medical Experts start legal proceedings against W.H.O and World Leaders for ‘Crimes against Humanity’

School Board Nazi struggles to breathe while she orders kids to wear masks…

Warren says she'll run for reelection to Senate

WiThheld rouTers ... The laTesT of many roadblocks --- To Arizona SenaTe's audiT of 2020 elecTion

Windham ResidenTs ... Refuse --- To Be Silenced

When Cruelty Actually Is The Point

Fauci's agency spent over $400k on experiments grafting aborted fetal scalps onto mice and rats

Who Is Bill Gates? (Full Documentary, 2020)

Here Is What Republican Voters Really Believe in. It's a Shame the GOP Has No Idea

guTTing america ... going back --- on Track

“The ElecTion is Over”... Trump HaTer Cindy McCain Trashes Arizona ElecTion AudiT ---“Ludicrous” (VIDEO)

DissidenT Episcopalians awarded $100 million worTh of property ... as U.S. Supreme CourT --- declines To Take up Fort WorTh case

Joe Biden needs to stop lying about the cause of the border crisis and start fixing it

George W. Bush says ... The Republican ParTy has a shoT aT fuTure elecTions if iT curbs --- iTs 'whiTe Anglo-Saxon ProTesTanTism' ( heriTage )

BREAKING EXCLUSIVE - TGP’s Jordan Conradson InTerviews AZ AudiT DirecTor Ken BenneTT — HUGE DEVELOPMENTS ... Including Plans To Triple OuTpuT --- QuesTions on Number of FraudulenT BalloTs (VIDEO)

Can Democrats Avoid a Wipeout in 2022?

Biden declares war on America -- literally

Former Trump assisTanT says ... 'freighT Train' of elecTion resulT audiTs coming --- 'The MAGA movemenT is demanding answers'

Tim Scott's 2024 Star Rises After Biden Rebuttal

“We Will Find MisTakes – IrregulariTies ... We Probably Are Going To Find OuTright Fraud” --- AZ GOP Chair Dr. Kelli Ward Give - UpdaTe on HisToric AudiT (VIDEO)

Australia security official warns nations are ‘beating drums’ of war amid Asia-Pacific tensions

Former Obama White House advisor Seth Andrew arrested, accused of stealing from charter school he founded

This is fo sucking funny ... Joe has no clue --- The dumbocrap leaders are in a hearT aTTack panic!!.

The voter suppression lie

War Room ... Rachel Maddow Is Worried abouT whaT AZ ElecTion AudiT will Find — She Knows Georgia Is NexT

Conspiracy Queen Rachel Maddow ... Panics Over --- ‘Dangerous’ Arizona Vote AudiT

‘True To iTs docTrine’ ... ConservaTives plan for a new church afTer UniTed MeThodism spliTs --- over homosexualiTy debaTe

Michael Eric Dyson - WhiTe People Can Help BLM ...by Holding RacisT RelaTives --- ‘To AccounT’ aT Thanksgiving

Derek Chauvin ... The GreaT --- WhiTe DefendanT

New Mexico state trooper executed by Mexican cartel member… Horrific Video

John Kerry in Earth Day wonderland

Democrats Are Cheaters

Derek Chauvin's FaTe ... Is Now in The Hands --- of The Jury

Fools' overture

Democrats Are Terrified of Georgia

Climate Media vs. Climate Science

Why We Black Leaders Support Voter ID Laws

Pelosi: ‘No Plans' to Bring a Court-Packing Bill to the House Floor – at This Time

B-1 Bombers Are Deploying To Norway For The First Time With An Eye On Nearby Russia And The Arctic

High School Coach Fired After Refusing To Enforce “Insane” Outdoor Masks During Sports

CNN Says Chinese-Style Fonts Are Racist

Gran Torino Denounced for Anti-Asian Racism

'It Is Still Not Safe To Go Outside,' Says Fauci's Head In A Jar In Year 2739

Biden Re-Ignites the Waco Fire

Over 500 White People Have Been Killed By Cops Since 2020. There Has Been No Rioting Over Those Deaths.

Buttigieg on Exaggerated Infrastructure Jobs Estimate: ‘I Should Have Been More Precise’

Videos - ChrisTians Tear Down MeTal Fences ... Denounce The Closure Of GraceLife Church --- Due To A COVID-19 ResTricTions

Pete BuTTigieg ... To evangelical vaccine hold-ouTs --- Maybe iT's parT of God's plan

TINHORN FLATS ... The Symbol of Modern Day America --- AgainsT Tyranny


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Homebuilder Confidence Rises to Six-Year High as U.S. Sales Jump
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2012- ... ar-high-as-u-s-sales-jump.html
Published: Nov 19, 2012
Author: Shobhana Chandra
Post Date: 2012-11-19 10:16:26 by Brian S
Keywords: None
Views: 1427
Comments: 1

Confidence among U.S. homebuilders unexpectedly climbed in November to a six-year high, propelled by the biggest jump in sales in a decade, adding to signs the real-estate market is improving.

The National Association of Home Builders/Wells Fargo index of builder confidence increased to 46, the highest level since May 2006, from 41 in October, figures from the Washington-based group showed today. The median forecast in a Bloomberg survey of 49 economists called for no change. Readings below 50 mean more respondents said conditions were poor.

Companies like Toll Brothers Inc. (TOL) are benefiting as more affordable properties and record-low mortgage rates bring buyers into the market. Faster hiring, fewer foreclosures and easier credit would ensure a sustained rebound in the industry that was at the center of the 2008 financial crisis.

“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” Barry Rutenberg, chairman of the National Association of Home Builders and a builder from Gainesville, Florida, said in a statement. “In view of the tightening supply and other improving conditions, many potential buyers who were on the fence are now motivated to move forward with a purchase in order to take advantage of today’s favorable prices and interest rates.”

Estimates in the Bloomberg survey ranged from 37 to 44. The index, which was first published in January 1985, averaged 54 in the five years leading to the recession that began in December 2007. It reached a record low of 8 in January 2009.

Current Sales

The builders group’s index of present single-family home sales advanced to 49 this month, also the highest since May 2006, from 41 in the prior month. The eight-point jump was the biggest since September 2002.

The gauge of buyer traffic was unchanged at 35. A measure of sales expectations for the next six months rose to 53, the highest since February 2007, from 51.

The confidence survey asks builders to characterize current sales as “good,” “fair” or “poor” and to gauge prospective buyers’ traffic. It also asks participants to gauge the outlook for the next six months.

Confidence improved among builders in three of the four U.S. regions, led by the Midwest, where the gauge jumped to 51 from 40 in October. Builders in the South and West also reported increases. Confidence in the Northeast fell to 31 from 32.

Storm’s Impact

The survey was taken in the two weeks following superstorm Sandy, which came ashore Oct. 29 in the Northeast, killing more than 100 people, disrupting rail and subway service, and leaving more than 8 million homes and businesses without power for days.

The report “therefore does reflect builder sentiment during that period,” the group said in a statement.

Toll Brothers, the Horsham, Pennsylvania-based luxury homebuilder, is among companies citing signs that the market has turned and will probably keep improving.

“We’re in a strong phase of the recovery,” Martin Connor, chief financial officer, said during a conference presentation on Nov. 15. “It’s a function of five years of pent-up demand being released,” and “ affordability and rising prices is also spurring people to buy.”

Declining mortgage costs are making it cheaper to buy a home. The average fixed rate on a 30-year loan dropped to a record-low 3.34 percent in the week ended Nov. 15, down from 4 percent a year ago, according to McLean, Virginia-based Freddie Mac data going back to 1971.

A Commerce Department report tomorrow may show that housing starts fell in October after reaching a four-year high the prior month. Builder broke ground on 840,000 houses at an annual rate last month, down from 872,000 in September, according to the Bloomberg survey median.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Brian S (#0)

And what's that Bottom 99% using for currency?

Part of the Turkey Day Eve News Dump:

FHA bailout approaching

When the no-down crap casino loans stopped being made in 2007 the FHA ramped up its loans to all the broke Americans (aka little to no savings) still wanting to pursue the American dream of home ownership:

www.doctorhousingbubble.c...-all-mortgages/#more-6068

mcgowanjm  posted on  2012-11-19   10:41:46 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com