“The fact that builder confidence has held in the 60s since June is proof that the single-family housing market is making lasting gains as more serious buyers come forward,” said NAHB Chairman Tom Woods.
Global economic concerns and the Federal Reserve’s preparation to raise interest rates were thought to be making the housing market sputter. In fact, Federal Reserve chairwoman Janet Yellen, calling the housing market “very depressed” in September, described the construction of new homes as “below levels that seem consistent with underlying demographics, especially in an economy that’s creating jobs.”
MHProNews understands that data on new home construction and sales of previously-owned homes will be released this week as well. ##
)Image credit:theatlanticcities-home planning)
