Homebuilder confidence remains flat at depressed levels

Negative equity rate drops at a record pace With the pace of home value appreciation slowing, the pace of negative equity improvement will also slow. The negative equity rate is expected to fall to 18.8 percent by the third quarter of 2014, according to the Zillow negative equity forecast iii. And more than half of homeowners with negative equity (55.6 percent) are 20 percent or more underwater.

Of concern is that single-family permits were at the lowest level of 2018. Homebuilders were buoyed by the fact that single-family starts are up 7.8% year over year.

Figures on Feb. 18 showed homebuilder confidence waned to a four-month low in February. “Housing construction continues to lag,” Yellen said Feb. 24. “Activity remains well below levels we judge.

The National Association of Home Builders reported Thursday that the group’s housing market index remained unchanged this month at its highest level in nearly two decades.

Confidence levels across all three grades remained below 50 points during 2017Q2. Grades 3 & 4 civil contractors were the only group which registered an uptick in confidence, from 33 points to 44. Conversely, confidence levels among Grades 5 & 6 and Grades 7 & 8.