According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builder confidence in the market for newly built, single-family homes held unchanged at a relatively low level of 16 for a third consecutive month in January 2011.
"As we emerge from the traditionally slow holiday season, builders continue to look for signs of improvement in the economy, home buyer demand and builder and consumer credit conditions," said 2011 NAHB Chairman Bob Nielsen. "Unfortunately, a severe lack of construction financing, and widespread difficulties in obtaining accurate appraisal values, continue to limit builders' ability to prepare for anticipated improvements in buyer demand in 2011."
NAHB Chief Economist David Crowe said, "At this point, housing remains on the sidelines of a weak economic recovery as consumers and builders wait for clear and consistent indications that jobs and economic output are reviving. Meanwhile, the problems that builders continue to confront in obtaining production financing, and in maintaining performing lines of credit, threaten to significantly slow the onset of a housing recovery."
I know the builders in central New Jersey, Mercer County and surrounding counties. Call or email me to talk about buying a new home in 2011.
Joe Giancarli, SA
Real Estate Advisor
609-758-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://www.njhomesource.com/
http://www.njhomesource.blogspot.com/
www.activerain.com/blogs/josephgiancarli
(resource: RealEstateChannel.com)
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