Real Estate Roundup: Homebuilder Confidence at 9-Year High

Homebuilder Confidence

Homebuilder confidence rose for the fourth straight month in September, hitting levels not observed since November 2005 — encouraging news for shoppers in inventory-starved regions of the country such as the Bay Area.

According to a report from the National Association of Homebuilders, builder confidence rose four points from August to September to reach 59 on the company’s housing market index. Builder confidence increased in every region of the U.S., with the index rising to 58 in the West, a two-point gain from the previous month.

The association’s Chief Economist David Crowe said that the country’s stabilizing employment market is helping to drive demand for homes and therefore builder confidence, but he cautioned that a lack of first-time buyers could impact the housing market recovery.

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