by Myles Biggs
According to a recent report from the National Association of Home Builders/Wells Fargo builder sentiment gauge, home builder confidence rose to 58, exceeding the projected level of 54 in November. An index above 50 means that more builders reported good market conditions rather than bad.
These figures show that home builders are confident the recent slowing of sales, caused in part by an increase in mortgage rates, will prove to be temporary. Measures of current demand, sales prospects and buyer traffic also saw increases – indicating that the housing market will be a source of strength for the economy in 2014.
Now we’d like to hear from home buyers and home owners – what is your level of confidence in the housing market? Tell us in a comment below.