According to data recorded by the National Association of Home Builders/Wells Fargo Housing Market Index for September, confidence among builders in the new single-family market remained virtually unchanged during the month.
Overall, confidence in the sector declined a single point to 14, which represents the sixth consecutive month the index has registered a reading between 13 and 16.
"Very little has changed in terms of housing market conditions so far this year," said NAHB chairman Bob Nielsen. "Builders continue to confront the same challenges in accessing construction credit, obtaining accurate appraisal values for new homes, and competing against foreclosed properties that they have seen for some time."
Nielsen referred to the recent Standard & Poor's credit downgrade and congressional gridlock on the budget deficit as reasons for lower builder and consumer confidence, as the economic strife continues.
In the Houston real market, home sales and prices have held strong in recent months, as the region has continued to maintain a healthy job sector, prompting more interest in local properties.
Courtesy of 2M Realty News