Home Builders Still Pessimistic . |
Wall Street Journal - Jan 18, 2011 |
Builders remained pessimistic about the outlook for new home construction in the first month of 2011, despite increasing signs of improvement elsewhere in the economy.
The National Association of Home Builders said Tuesday its housing-market index remained flat at 16 in January. Although companies are adding jobs and economic growth appears to be speeding up, improvement in the construction industry has lagged behind.
The seasonally adjusted index, based on a survey of 420 builders, has held at 16 for three consecutive months. Numbers above 50 mean more builders view conditions as good than as poor. The last time the home builders' confidence gauge was above 50 was April 2006.
Home builders are competing with demand for previously owned homes and have been struggling to get credit to start projects.
Read Full Article from Wall Street Journal
- Posted: 2011-01-18 11:09:35
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|