Homebuilders In For a Tough Year
Posted by Tre Pryor, Editor-in-Chief on June 06, 2010 in News tagged with National Association of Home Builders (NAHB)Just finished reading Homebuilders Less Confident in Economic Recovery. It’s useful to note:
The National Association of Home Builders said Tuesday its housing market index fell to 17 in June, sinking five points after two straight months of increases. It was the lowest level since March.
Some of this is due to the fact that the National Tax Credit wasn’t thought to be extended. Just this week we find out that it will. Even still, with so much existing Louisville homes for sale inventory, it’s a safe bet that new construction will continue to see their start numbers slide.
» More Louisville Real Estate.
Hard for builders to make any money with the prices of re-sales so low. Especially newer homes that are in distressed sales. Until they are gone from the inventory, it will be tough for new construction.