crest nicholson holdings plc said thursday that a recovery in customer confidence and housing market activity is under way with sales improving in the new calendar year the londonlisted house builder said that while the economic outlook remains uncertain the housing market has demonstrated its relative resilience and it continues to benefit from a strong balance sheet the company said its rate of sales per outlet per week in the 11 weeks from the start of calendar 2023 stood at 052 improving from 035 for the 11 weeks starting nov 1 crest nicholson said average selling prices have remained robust with an enduring lack of supply and while the market is clearly softer than the previous two years it remains resilient mortgage rates have progressively reduced and general economic stability has become more favorable though build cost inflation remains a challenge and support for first time buyers with lower levels of equity will be necessary for a full market recovery the company said the board remains confident in crest nicholsons ability to create value through the development of its attractive land portfolio and its plans to expand into new regions which is on track and progressing well the company said