It’s not yet time to uncork the champagne, but every month since July “feels a little bit better” for business, Ara Hovnanian, president and CEO of homebuilders Hovnanian Enterprises, told CNBC Wednesday.
“In September and October the positive momentum has continued,” said Hovnanian. The homebuilder was founded in 1959 and constructs housing in 18 states.
But he was quick to point out that even with homebuilding inching up, his business is still short of last year's activity.
Hovnanian added that there’s more stability in new home prices than in existing ones, and that goes for all markets around the country.
He also noted a lag in the rate at which new housing is being constructed.
“The population is growing,” Hovnanian said, “and we’re not building houses to that level at all.”