“This fourth consecutive increase in builder confidence provides further evidence of the gradual strengthening that’s occurring in many housing markets and providing a needed boost to local economies,” said NAHB Chief Economist David Crowe. “However, we are still at a very fragile stage of this process and builders continue to express frustration regarding the inventory of distressed properties, inaccurate appraisal values, and the difficulty of accessing credit for both building and buying homes.”
In a separate report Wednesday, the National Association of Realtors said the total inventory of single-family homes, condos, townhomes and co-ops was down 19.3% in July from the year-ago period. “Low inventories, combined with rising list prices and lower times on market, are positive signs that the overall market is in a stabilization mode,” it said.
SPDR S&P Homebuilders ETF (NYSEArca: XHB) is another housing ETF.
iShares Dow Jones US Construction
