NAHB: Home builder confidence remains low

The National Association of Home Builders’ (NAHB) Housing Market Index remained steady this month at 16 for the third month in a row, indicating that homebuilders’ confidence is still low.

Perceptions on current single-family home sales and sales expectations for the next six months remained the same as last month. Perceptions of prospective buyer traffic gained one point.

According to NAHB Chief Economist David Crowe, although the economy is recovering, the housing market may not see any gains yet, since consumers want to be sure about jobs and the economy before diving back in buying homes. Difficulties in getting financing may cause additional strain on homebuilders, he said.