Homebuilder Confidence Slumps (Houston, Sugar Land, Missouri City: real estate, mortgage, loan)

[Mezz2]

From Bloomberg

The National Association of Home Builders/Wells Fargo sentiment gauge slumped to 46 this month from 56 in January, figures from the Washington-based group showed today. Readings less than 50 mean more respondents reported poor market conditions than good. The measure was weaker than the most pessimistic projection in a Bloomberg survey of economists.

By Region

Builder confidence declined in all four U.S. regions, led by a 14-point plunge in the West to the lowest level since June. The index dropped nine points in the Midwest to 50, the weakest reading since May. In the South, the measure decreased to a nine-month low of 46, while sentiment among builders in the Northeast fell eight points.

[chris_ut]

Real Estate is local and I don't think a national survey has much bearing on Houston.

[Schumacher713]

We just hit an all time high like a month or two ago. I hear people talking about our real estate peaking. All I can say is simply supply and demand. Houston is projected to grow and we don't have enough houses. I would not be surprised to see housing in the loop to double in price over the next 10 years or so.

[Michelle Morris]

LOL, those survey respondents must not have been from my area! Builders have wait lists here in the Missouri City and Sugar Land areas!!

[NovieN]

I dont know where the slumps are at but in Houston prices for homes are sky rocketed and so is interest rate. Two weeks ago the rate was 4.5% and as of today, rate for 30 years mortgage loan is 5%. I hate it - with the way it is going, by the time I can lock interest rate on my new built home, it may jump up to 5.5%

[cheryjohns]

They need to send the slumping area's construction crews down here - they are behind.