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NAHB CEO Sees Bright Spots in Housing Market

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    NAHB CEO Jerry Howard weighs in on the current state of the housing market.

  • Duration 3:44
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Fox Business alert the people who build homes feeling very positive about the sector right now the national association of home builders' confidence.

Now holding at its highest level since June.

A 2007.

This good news kicks off a week of housing market data joining me now for exclusive interview.

This new president Jerry Howard -- it's always great to have you on.

And the thing now back your own yeah that -- yeah I mean I was looking at a particular I was find it -- -- experts like you Tommy -- look at the regions while I did.

The west there is a drop their -- coming out -- Well let you gotta look back to last month in the west had inordinately high numbers last month so this is really just a correction.

On the whole the numbers are good everywhere.

Really important -- traffic is up everywhere and six months out the builders' confidence is even look like it'll be higher than -- than it is right now so.

That anomaly in the west last month -- corrected itself everybody's on -- even far everything is the fundamentals are getting better across the board.

OK but now it look -- a little bit had been the worst six months ago but still the number was flat to what we're saying on the stock cited as saying a lot that is well.

The builders themselves not getting a big boost from this data today don't believe they do what do you make of that right now.

Well we we -- expected for a long time now that this recovery will be gradual and it won't be sharp recovery and I think it.

That this month is reflecting that the gradual is that we're gonna see.

As we recover but again.

The numbers are stable there solid other up from where they've been over the last six to eight months and the fundamentals in the market place are very very good interest rates are down.

-- you're starting to see as I mentioned more and more traffic and places and builders are starting to go out and build again and that's very positive for the economy and for the housing sector.

But Karen what -- -- building exactly -- I was looking at the multifamily.

Index multifamily production that to me is apartments and MI reading that correctly about -- you're saying a big boost.

The numbers we have not seen in four to five years I mean is it really about the rental market is not labeled as a -- -- that matter.

Well it's both really is both multifamily and single family -- your right Sheryl multifamily does include.

Apartments and also includes condominiums.

In town houses but what you're seeing is.

-- a housing being built in anticipation of new household formation.

When new households are formed traditionally they start renting before they buy so the multifamily market is kicking off faster.

It's actually a very good sign in the -- site of of the housing production cycle.

Jerry you and I talked extensively about the markets that aren't doing so well let's talk about some of the markets that are doing -- you're finding some bright spots.

Out there across the country who do you -- Actually we have created a new index back in September where we study every metropolitan area to see which markets are improving.

When we created in September there were six markets six metropolitan areas.

That qualified as improving housing markets now there's about a hundred.

And they tend to be.

Mid range mid -- cities and areas.

At first they were almost all of those that would -- -- or were largely reliant.

On energy for their economy but now you're starting to see it expand out into the our overall manufacturing sectors as well again good signs that employment is up and and and the economy and other sectors is growing.

Interestingly Sharyl we're starting to see some of the some markets in places like Florida and California pick up.

So while this recovery is slowing its gradual it is starting to take -- nationwide.

I saw -- -- -- there and a couple of cities and Austin all right Jerry -- is great to always have you on the -- thank you very much.

Thanks -- too soon from the NAHB with got a lot of data coming up this nick Fox Business we'll.

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