Tuesday, September 25, 2012
Builder confidence continues to rise
Builder confidence also rose across every region of the country. Looking at the three-month moving average for each region, the Midwest and West each registered five-point gains, to 40 and 43, respectively, while the South posted a four-point gain to 36 and the Northeast posted a two-point gain to 30.
The Builder Confidence Index measures builder sentiment about the building industry through a survey a NAHB members conducted by the Housing Economics Department of NAHB. The index measures sentiment on a scale of 0 to 100. A measure of 50 indicates a neutral sentiment. Above 50 indicates a positive sentiment, and below 50 indicates a negative sentiment. The index bottomed out at 8 in January 2009 and has been steadily rising since January 2012.