November 26, 2007
Home Builders See Worse Times Ahead
Home Builders See Worse Times Ahead
Home builders' confidence stayed at record low levels in a November as a slight uptick in buyer traffic was balanced out by a slightly more pessimistic view six months down the road.
The overall National Association of Home Builders index was 19, which was the same as the upwardly revised October reading.
The index measuring how builders view buyer traffic edged up to a reading of 17 from 15 in October. But the subindex measuring builders' view of the market six months from now slipped to a record low 25 from 26 a month ago.
Builders have widely reported offering incentives such as covering closing costs and extra features on a new home for free in order to spur demand.
If you are in the market for a home, would you think you'd get a better deal on a new home, or a resale right now? We'd love to hear your opinion. Just use the "comment link" below and tell us what you think.
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