Homebuyers More Serious, Builders Say

Homebuilder confidence is growingHomebuilder confidence is growing as more buyers plan to buy in the near future. The housing market index, an expression of builder sentiment, ticked up slightly in November, according to the National Association of Home Builders.

The second positive move in two months does not reflect a significant traffic increase at model homes but rather an improvement in the level of seriousness that prospective buyers are communicating to builders about their intention to buy in the next few months.

Hardly a rousing vote, the latest data is somewhat underwhelming when considering ultra-low interest rates and the increasing glut of housing inventory.

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