Homebuilder confidence rises - The Business Journal of Milwaukee:

vittitowmehigyk1238.blogspot.com
It is the first back-to-back increass in builder confidence since February 2008 and is now at its highestg level ineight months. The index measuring curren confidence rosetwo points, from 12 in Apripl to 14 in May. Any reading under 50 still indicatew the majority of builders view conditionsas poor. “The fact that the May [Housinb Market Index] continued to tick up from April’s 5 point increasde provides confirming evidence that the improvede confidence level wasno fluke,” said NAHB chiefd economist David Crowe.
“This continued increase indicates that home buildersfeel we’rwe at or near the botton of the market and that positive signss lie ahead for builders and potential home provided that builder access to production credig significantly improves.” A separate index measuring expectations for the next six monthzs rose three points to 27. Builders and Realtorsd are hoping lower prices and historically low mortgagee rates will overcome tighterlending standards. The housing market may also benefig this year froman $8,00o0 tax credit for homebuyers. Earlier this the reported pending sales of existing homedrose 3.
2 percent in March, the firstg back-to-back increase in pending sales in a