Index Finds Builders in Good Holiday Spirits in December, Especially Out West
The nation’s home builders are in good holiday spirits this December, maintaining the same high level of confidence they voiced during the preceding two months, according to the NAHB/Wells Fargo National Housing Market Index (HMI). A new regional breakout of the HMI data also reveals that builders in the West tend to be the most optimistic of all.
The December HMI edged up slightly to a reading of 71 this month, indicating that builders’ positive assessment of the housing market has held firm for the last three months.
“Builders have every reason for good cheer this holiday season,” said NAHB President Bobby Rayburn. “The bottom line is that buyer demand continues to keep builders busy and, like most business owners, builders are happiest when we’re busy.”
“On a nationwide basis, the final quarter of 2004 has been a good one for home builders,” agreed NAHB Chief Economist David Seiders. “Indeed, the average HMI was up several points for the quarter, reflecting excellent financing conditions, rising home prices and an improving economy.”