Builders may be having doubts about a rebound this year, with their confidence in the single-family home market going from a not-great 28 to frustrated 25, numbers from the National Association of Home Builders showed Monday.
With the April figures, the National Association of Home Builders/Wells Fargo Housing Market Index is where it started 2012 – though that was the best it had been since 2007.
NAHB says builders are finding consumers interested, but skittish about a commitment.
“Our members are realigning their expectations somewhat until they see more actual signed sales contracts,” Barry Rutenberg, NAHB chairman, said. NAHB's chief economist, David Crowe, called the drop a "pause," not a turnaround in builders' views, but he noted that tight credit for builders and buyers and competition from foreclosures are not helping.
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