Homebuilder Confidence Down Nationally
The National Association of Home Builders publishes a monthly report on Homebuilder Confidence that acts as a key real estate market and economic indicator. Their August report revealed that homebuilder confidence was at an index of 13–which is a decline for the third month in a row. An index of 50 is the breaking point for positive sentiment, so an idex of 13 is a pretty pessimistic outlook.
So what does this report mean for Ulster County? Following the national trend, there are certainly less new homes being bought and sold in Ulster County. However, Ulster County does not have the oversupply of new homes that is symptomatic of over-exuberant building in areas like Florida, Arizona & Las Vegas. Towns here are relatively conservative in approving subdivisions and require much more due process and due diligence to occur before building can begin. Larger neighborhoods springing up overnight are certainly not the norm in Ulster. Green building is a very popular trend in the area that has helped retain interest in new construction homes. So while this Homebuilder report paints a pessimistic view of new construction homes at the national level, several factors insulate Ulster County from being as dramatically effected by tough national economic conditions.