Close to Bottom
“The market continues to bounce along the bottom, with conditions in some locations beginning to improve,” NAHB Chief Economist David Crowe said today in a statement. “The stronger rebound in sales expectations for the next six months likewise marks a return to trend.”
The NAHB confidence survey asks builders to characterize current sales as “good,” “fair” or “poor” and to gauge prospective buyers’ traffic. It also asks participants to gauge the outlook for the next six months.
Builders in three of the four regions were less pessimistic this month. In the South, the gauge rose to 17, the highest since March, from 14 a month earlier. The measure also climbed in the West and Midwest.
By Bob Willis - Jul 18, 2011 7:19 AM PT
One quarter of 2011 was down & one quarter was up. Yes folks, we are finally getting through this HUGE real estate market mess. I call it...HREMM.
It's just like fishing the bottom. You drag along, bouncing up and down, hoping you don't snag your line & WHAM......it's on!
The challenge will then be; have we learned anything and will we handle things better the next time around?
My favorite part of this whole HREMM is how American & Entrepreneurial positive thinking has basically supported and reinvented the market. Massive foreclosures (Investors & Private Lenders handling it), high loan qualification parameters (Investors & Private lenders handling it).
It's a beautiful business picture!
Thanks to all PMA believers,
Larry Tutino, Blog Founder
