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Home builder confidence increasing

Recently released statistics show home builder confidence is increasing.

Recently released statistics show home builder confidence is increasing.

Recently released numbers showed home builder confidence on the rise.

The November National Association of Home Builders/Wells Fargo Housing Market Index rose by three points, to 20, bringing builders' confidence to its highest point since May 2010. The index also had a three point increase in October.

Experts said improvement in the economy played a major factor in the increase, but losses are still being felt across the real estate industry, according to Reuters.

"While this second solid monthly gain on the builder confidence scale is encouraging, the overall measure remains quite low due to the many challenges that home building continues to face with regard to the high number of foreclosures, the difficulties of obtaining construction financing and accurate appraisals, and the restrictive lending environment that is discouraging potential buyers," said Bob Nielsen, chairman of the NAHB and a home builder from Reno, Nevada.

According to the National Association of Realtors, 10 real estate markets are leading the country towards stability in the housing sector, but it will take time to fully recover because other sectors will weigh down the real estate market for months. Moving trucks might be seen more in these 10 real estate markets.