Builders are shaky about the housing market in western U.S. According to the Orange County Register Th e Home Builders/Wells Fargo Housing Market Index home builders have a lack of confidence in the home market.
The 25 yr old index is based on a survey of home builders who are asked to rate their outlook for builders based on current single family home sales, conditions, conditions for the next six months and the amount of consumer traffic.
The confidence fell back a full point. The traffic at the building sites has actually gone up one full point. The builders feel that the home buyers are skittish about the health of the housing market and overall economy. Remember that builder's are competing against the foreclosure properties.
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