Builder confidence in new single-family homes remained flat in December, according to the National Association of Homebuilders (NAHB)/Wells Fargo Housing Market Index. The index remained at 16, the same as in November.
According to NAHB Chairman Bob Jones, builders remain uncertain of the market due to high unemployment levels, the high number of foreclosures and “challenging credit conditions.”
The index is based on a monthly survey conducted by NAHB, which polls builders on three categories: current sales conditions, sales expectations and traffic of prospective buyers. The current sales and sales expectations categories remained unchanged from November, while the prospective buyers category dropped one point. The index is adjusted for the season, factoring in the usual wintertime slowdown.
The index declined by four points in the Midwest and West regions, and one point in the South. The Northeast, however, gained 12 points. NAHB noted that the Northeast index can vary more than other regions from month to month due to a smaller survey sample.
Related Stories
4 Steps to Prep Your Business for Contraction
How a remodeling company plans ahead for the worst of times (and the best of times)
Creating a Company Fire Drill: How to Prepare for the Worst
A disastrous fire could have been a lot worse if the business wasn’t prepared for the unexpected
The Fundamentals of Growing Profitably
On this episode of Women at WIRC podcast, Nip Tuck Remodeling Owner April Bettinger shares how she plans for her company's profitable growth
3 Things to Add to Your Construction Contract—From a Lawyer
Did you know you can add these three elements to your contracts?
Study Finds Remodelers’ Net Profits Declined
How far did net profits decline and what's influencing the drop?
The Home Depot Bets on Pros Amid Predictions of Flat Sales Growth
For the first time since 2019, The Home Depot’s revenue fell short of Wall Street’s predictions amid a general softening in the home improvement market
Indicators of a Softening Market and How to Prepare
Market conditions could be changing, but don't panic. Richardson shares ways to stay on top of market conditions and how to prepare for any potential softening down the road.
Grow Your Business Through Collaboration with Remodeling Peers
Remodeling Mastery Forums offers a unique business opportuniy for remodelers