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Week of November 22, 2004

Front Page

* Changing Leadership of 109th Congress Likely to Renew Impetus for Housing Initiatives
* Tell a Friend About the NAHB Web Site
* Building Material Shortages Persist, But Don’t Appear to Be Getting Any Worse
* Housing Snapshot

President's Message

* The Elections Provide a New Foundation for Achievement in Housing

Housing Politics

* Congress Responds to Housing Concerns Before Passing Highlands Conservation Act

Housing and Economics

* October Housing Starts Galloping Toward a Rousing Finish for 2004
* Builder Confidence Holding Strong and Steady in November
* High Housing Prices Putting Californians on the Move, Survey Finds
* Eye on the Economy

Housing Finance

* NAHB Task Force on Housing Finance Reform Seeking Input from Association Members

Sales and Marketing

* These ABCs Help Lead to Model Home Merchandising Success

Business Management

* How to Implement Controls That Will Help Protect You From Fraud

Seniors Housing

* Team and Performance Matter When Selling to the 55+ Market

Small Builders and Remodelers

* Technology — Can't Live With It, Can't Live Without It

Builders' Show

* tecHOMExpo™ Will Help You Get Your Tech Together

Green Building

* Entries Sought for National Green Building Awards

Labor

* Home Building Students Hear From Leaders in the Industry

Building Products

* Wood Composite Doors Leading New Trend in Garages

Builder's Engineer

* Do Consultants Cost You Money?

Building News Coast To Coast

Association News & Events

* Anchorage Builders Share the Holidays With Needy Children
* NAHB Winter Board Meeting Schedule Announced
* Save 50% on NEBS Holiday Cards, Calendars and More
* Awards Programs Deadlines
* Calendar of Events

NBN Back Issues

 

Builder Confidence Holding Strong and Steady in November

The continuation of low mortgage rates and improving economic conditions are helping maintain a solid level of builder confidence in the market for new single-family homes, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).

The November HMI registered no discernible change in builder attitudes following an impressive four-point jump that lifted the index to its highest level of the year — 71 — in October.

“While rates on long-term mortgages have edged up marginally in the last few weeks, the average 30-year loan remains below 6%,” said NAHB President Bobby Rayburn. “That’s a key factor driving buyer demand right now.”

“The basic story hasn’t changed,” agreed NAHB Chief Economist David Seiders. “As of the end of October, the average interest rate on a 30-year mortgage was 5.64%. That moved up slightly to 5.76% as of mid-November — still an exceptionally attractive rate. The result is builders’ continued confidence in the momentum of this housing market.”


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The HMI is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years.

Each month, builders rate current sales of single-family homes, prospects for sales in the next six months and the traffic of prospective buyers. Any number over 50 indicates that more builders view sales conditions as good than poor.

The component index on single-family sales rose two points this month, to 79. The indexes gauging coming sales and traffic each edged down by two points, to 80 and 50, respectively.

“Builders are sending a message of optimism heading into the final month of 2004,” said Seiders.
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