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Home Builder Sales Expectations Decrease
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Home Builder Sales Expectations Decrease
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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May 16, 2011 (Jeff Alan)

Future sales expectations from the nation’s homebuilders dropped two points in May, from 22 to 20, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Builder confidence in the market for newly built, single family homes remained unchanged at the low level of 16.

The HMI is derived from a survey that NAHB has been conducting for over 20 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.” Builders are also asked to rate traffic of prospective buyers as ““high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

Builder confidence has remained unchanged at 16 for the past six out of seven months with NAHB citing persistent concerns regarding competition from distressed property sales, lack of production credit, inaccurate appraisals and proposals to reduce government support of housing as reasons for the continuing low score.

Components of the index which gauge current sales conditions and the traffic of prospective buyers both increased by one point in May, to 16 and 14, respectively. The traffic gauge has reached its highest point since May of 2010.

“The HMI component index measuring traffic of prospective buyers increased by one point for the second time this year as prospective buyers show growing interest but remain extremely hesitant due to a number of factors,” said NAHB Chief Economist David Crowe. “Asked to identify reasons that potential customers are holding back at this time, 90 percent of builders surveyed said clients are concerned about being able to sell their existing home at a favorable price, while 73 percent said consumers think it will be difficult for them to get financing. Clearly, access to credit for both builders and buyers remains a considerable obstacle to the revival of the new-homes market.”

Regionally, the Northeast posted a 5-point decline to 15, the Midwest posted no change at 14, the South posted a one-point gain to 16, and the West posted a two-point decline to 16.

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes, competition, distressed properties, lack of credit, appraisals, government support

Source:
NAHB

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May 16, 2011 (Jeff Alan)

Future sales expectations from the nation’s homebuilders dropped two points in May, from 22 to 20, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Builder confidence in the market for newly built, single family homes remained unchanged at the low level of 16.

The HMI is derived from a survey that NAHB has been conducting for over 20 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.” Builders are also asked to rate traffic of prospective buyers as ““high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

Builder confidence has remained unchanged at 16 for the past six out of seven months with NAHB citing persistent concerns regarding competition from distressed property sales, lack of production credit, inaccurate appraisals and proposals to reduce government support of housing as reasons for the continuing low score.

Components of the index which gauge current sales conditions and the traffic of prospective buyers both increased by one point in May, to 16 and 14, respectively. The traffic gauge has reached its highest point since May of 2010.

“The HMI component index measuring traffic of prospective buyers increased by one point for the second time this year as prospective buyers show growing interest but remain extremely hesitant due to a number of factors,” said NAHB Chief Economist David Crowe. “Asked to identify reasons that potential customers are holding back at this time, 90 percent of builders surveyed said clients are concerned about being able to sell their existing home at a favorable price, while 73 percent said consumers think it will be difficult for them to get financing. Clearly, access to credit for both builders and buyers remains a considerable obstacle to the revival of the new-homes market.”

Regionally, the Northeast posted a 5-point decline to 15, the Midwest posted no change at 14, the South posted a one-point gain to 16, and the West posted a two-point decline to 16.

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes, competition, distressed properties, lack of credit, appraisals, government support

Source:
NAHB

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

May 16, 2011 (Jeff Alan)

Future sales expectations from the nation’s homebuilders dropped two points in May, from 22 to 20, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Builder confidence in the market for newly built, single family homes remained unchanged at the low level of 16.

The HMI is derived from a survey that NAHB has been conducting for over 20 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.” Builders are also asked to rate traffic of prospective buyers as ““high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

Builder confidence has remained unchanged at 16 for the past six out of seven months with NAHB citing persistent concerns regarding competition from distressed property sales, lack of production credit, inaccurate appraisals and proposals to reduce government support of housing as reasons for the continuing low score.

Components of the index which gauge current sales conditions and the traffic of prospective buyers both increased by one point in May, to 16 and 14, respectively. The traffic gauge has reached its highest point since May of 2010.

“The HMI component index measuring traffic of prospective buyers increased by one point for the second time this year as prospective buyers show growing interest but remain extremely hesitant due to a number of factors,” said NAHB Chief Economist David Crowe. “Asked to identify reasons that potential customers are holding back at this time, 90 percent of builders surveyed said clients are concerned about being able to sell their existing home at a favorable price, while 73 percent said consumers think it will be difficult for them to get financing. Clearly, access to credit for both builders and buyers remains a considerable obstacle to the revival of the new-homes market.”

Regionally, the Northeast posted a 5-point decline to 15, the Midwest posted no change at 14, the South posted a one-point gain to 16, and the West posted a two-point decline to 16.

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes, competition, distressed properties, lack of credit, appraisals, government support

Source:
NAHB

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.