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The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for newly built, single-family homes. In November, the Index rose three Points to 20, the second consecutive month of gains. David Crowe, NAHB’s chief economist, said the improvement is evidence that well-qualified buyers are being tempted back into the market by favorable mortgage rates and prices. Crowe believes there will be further, gradual gains in builder sentiment heading into 2012. Each of the three individual components, those measuring currents sales conditions, future expectations, and traffic of prospective buyers, were up from October. More here.
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