Daily Real Estate News | April 16, 2009 |
Home builder confidence was in the double digits in April for the first time in six months.
The index rose to 14 from nine last month. That was the largest single-month increase since May 2003. An index number below 50 means most respondents view conditions as poor.
“After a very long period of extreme distress, it’s given the builders some sense of reaching a bottom,” says David Crowe, chief economist for the National Association of Home Builders, which compiles the index along with Wells Fargo.
The confidence index was up all over the country, with the largest increases in the Northeast at 16 and the West at 9.
Source: CNNMoney (04/15/2009)