Builders' confidence at 22-year low

Home builders’ confidence stayed at basement levels in November, due to an increased inventory of unsold homes.
NOV 19, 2007
By  Bloomberg
Home builders’ confidence stayed at basement lows in November, due to a larger inventory of unsold homes and concern about negative media coverage on housing market woes. The National Association of Home Builders said its preliminary National Association of Home Builders/Wells Fargo Housing Market index was unchanged at 19 in November, marking the lowest reading since the index was first measured in January 1985. The index measuring sales expectations for the next six months fell one point to a reading of 25. Readings below 50 mean that more homebuilders view market conditions as less than favorable. "While [home builders] continue to work down inventories of unsold homes and reposition themselves for the market's eventual recovery, they realize it will be some time before market conditions support an upswing in building activity-most likely by the second half of 2008," said David Seiders, chief economist of the Washington-based NAHB, in a statement.

Latest News

KKR drums up more than $850M for real estate credit fund
KKR drums up more than $850M for real estate credit fund

The titanic alternative asset manager sees potential for deals offering a compelling measure of safety.

Number of CFP professionals reaches fresh worldwide record
Number of CFP professionals reaches fresh worldwide record

The global body overseeing the CFP mark hails milestone year, with the US accounting for most of the 230,000 plus planners now holding the designation.

Ackerman promoted at Integrated Partners, Robertson Stephens strengthens board
Ackerman promoted at Integrated Partners, Robertson Stephens strengthens board

Some of this week's hires across the wealth and investment industry

Emergency savings dynamic shifts to positive for first time in three years
Emergency savings dynamic shifts to positive for first time in three years

More Americans have added to their savings than depleted them.

Muted week for stocks, bonds amid data, trade, conflicts
Muted week for stocks, bonds amid data, trade, conflicts

Some big headlines have made many investors cautious this week.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.