Builders: New policies improving housing market conditions
Builder confidence improved in December to its highest reading in 18 years as builders say housing market conditions are improving due to new policies, according to the Housing Market Index by the National Association of Home Builders and Wells Fargo.
Builder confidence increased five points to 74 in December, up from a downwardly revised November reading. Before the downward revision, November showed the highest level of builder confidence in months. Now, December’s increase placed builder confidence at its highest level since July 1999.
“Housing market conditions are improving partially because of new policies aimed at providing regulatory relief to the business community,” NAHB Chairman Granger MacDonald said.
Derived from a monthly survey that NAHB has been conducting for 30 years, the index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as good, fair or poor.
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