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NAHB CEO: Housing is Recovering, But Lending is Still Tight

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  • Description

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

  • Duration 3:23
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Well Jamie thank you so much well I tell you what home builder confidence in the market for new homes -- one point.

But this number a five year high at the national association of homebuilders is the housing market index -- -- is at 29.

Upper 28 last month but it was thirteen a year ago.

Joining me now out of Fox Business exclusive NH -- CEO Jerry Howard Jerry.

You know that the the month to month shored up but I think what's -- what.

And gave me -- about an overall.

Positive feel this morning when I got this new number from you was that at the the year over year number is really huge jump are we really -- in the right direction.

-- I think we're heading in the right direction -- We're happy to see its ups again another point.

Obviously like to see it increasing even further but.

It seems to be solidifying we're not seeing any erosion.

I still having problems with credit availability.

Both at the beginning of the pipeline acquisition development credit but and at the bottom the bottom into the pipeline for consumer credit as well but other than that things are looking good.

What -- looking good but at the same time some would say that this number could be a bit disappointing -- at fifty.

Is the magic number -- that's true optimism we're still -- 29 how you respond to.

Well that's that's an accurate interpretation but on the other hand going back to your earlier statement a year ago we -- at thirteen -- this has been a long deep.

Depression.

In the housing sector and we're just really started to climb out of -- we've got a ways to go.

Police were climbing upwards and not not staying flat.

What about long process time were we out what that right now because the homebuilders -- megawatt build.

But -- -- at the banks take too long to get those contracts.

Finish to get the lung -- -- the financing done that slows on the whole process builders telling you about that right now.

The the credit process has become rather than an application in inquisition process for consumers -- are getting into a mortgage is extremely difficult.

The pendulum has swung very very far.

And that process is really slowing down the -- significantly.

I'll inquisition Jerry governor remember that -- -- borrow allied army Jerry -- let's talk about the builders themselves these these are of course.

Who you survey the big names KB home multi hot -- I was looking to some of the stocks haven't been performing.

-- today is we've -- this process in the Florida next a lot of have been doing.

Fairly well I know you're not a stock -- now is gonna ask you what the home dollars -- telling you about the next six months.

It's up the builders seem to be optimistic across the board whether you're talking about the large publicly traded guys or even the smaller mom and pop builders everyone seems to think.

That absent some sign of a calamity somewhere.

That we're we're we're we've hit bottom -- we're start to come out.

All right just before I let you go let's talk about the region's I was a bit surprised.

That the northeast in the south actually showed.

A decline when the midwest in the midwest for showing the upside here what is going on in those particular regions that did not show positive number.

I think it is it's it's probably weather related.

The northeast in the south had very mild winters and so you had significantly more.

Activity in the -- than you usually do and I think it's just an adjustment that way I don't think that the fundamentals are any different there than they are other parts of the country.

Jerry Howard it's always good to talk to about these reports -- -- the numbers are going higher its.

Good -- to see Jerry Howard CEO Ben.

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