March 28, 2024 9:03 AM
Search
Close this search box.
Share this post:

Home-builder confidence spike is main topic of CEIR Predict

The National Association of Home Builders (NAHB) reported on July 17 that home-builder confidence jumped more in the last month than it has in nearly a decade.


According to the NAHB Housing Market Index for July, it is the highest it has been since March 2007. Builder confidence rose six points on the index to 35. Every industry component and every region recorded gains.

“Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved,” said Barry Rutenberg, chairman, NAHB. “This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.”

How will the struggling economy and reports of low consumer confidence impact the recovery of the building, construction, home and repair sector in the exhibition industry? We have already seen an increase in gas prices as a result of the drought impacting crops and the production of ethanol. How will the shortage of corn, a key ingredient in ethanol, impact the transportation sector?

“The building, construction and transportation industries are on the long road to recovery after being hit harder than most businesses during the Great Recession. As these industries climb out of this historic recession, they face U.S. economic growth that is sluggish and uneven,” said Dennis Slater, president and CEO, Association of Equipment Manufacturers. “While many of the businesses in these sectors lost 30 to 50 percent of their business during the Great Recession, there is a general feeling of optimism that should translate into significant opportunities for growth in the exhibitions that serve these markets. The strength of this recovery depends on many factors – both domestic and globally – that will determine if the recovery continues, falls back or even accelerates.”

C-level organizers are invited to attend “Predict: CEIR’s Annual Outlook Conference” on Sept. 13 on the Park at Time Warner Center in New York City. More information about the event is available online at www.ceir.org/predict.

  • Superior Logistics

Related Stories

Trending Now

  • Employco
  • Full Circle Events Sidebar Ad