Home builders turn optimistic

Washington -- With lower home prices luring more consumers into the market, the nation's home builders continued to grow more optimistic during January, extending an uptick begun in the closing quarter of last year.

The Housing Market Index of builder sentiment compiled by the National Association of Home Builders (NAHB) and Wells Fargo Bank rose two points to a reading of 35, improving on an upwardly revised reading of 33 in December.

"The same factors that were evident at the end of 2006 continue to hold true in today's housing market -- improving affordability measures, strengthening consumer assessments of home buying conditions, and an upswing in applications for mortgages to buy homes," said David Seiders, NAHB chief economist.

Seiders said the recent stabilization of home buyer demand largely reflects reductions in mortgage interest rates since mid-2006, lower energy prices, and growth in employment and household income. Lower home prices and widespread sales incentives offered by builders have also helped resuscitate buyer demand, he said.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!