Home Builder Confidence Posts Biggest Gain In Five Years
This is great news, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) has come out and it was up the most in 5 years. Now the numbers were about as low as they could go, but any upswing is great news for those of us in real estate.
Home builders have had a rough go of it the last 2 years, but news that home builders are feeling more confident these days.
Each of the HMI’s component indexes recorded substantial gains in April. The largest of these gains was a 10-point surge in the component gauging builder sales expectations for the next six months, which brought that index to 25. The component gauging current sales conditions and the component gauging traffic of prospective buyers each rose five points, to 13 and 14, respectively.
The HMI also rose in every region in April, with an eight-point gain to 16 in the Northeast, a six-point gain to 14 in the Midwest, a five-point gain to 17 in the South and a 4-point gain to 9 in the West. via NAHB
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Comment by Portland Real Estate on 16 April 2009:
Im crossing my fingers that the uptrend continues. I really would like to see the end of this slump
Comment by Woodstock real estate on 16 April 2009:
This sounds like solid news. When showing homes in a new neighborhood the other day I noticed 4 new home starts. This same neighorhood hasn’t had a new home start in over 18 months! I also read a similiar article in our local newspaper also that stated the New Home Builders are finally starting to see positives. We all know that we have a long way to go, but just maybe we are passing the bottom. Finally!
Comment by Below Market Value on 16 April 2009:
Yeah I hope so too.
Comment by Manassas VA Homes on 17 April 2009:
There hits a point where thy levels could only go so low before something had to look like positive news. Do you think builders really hit bottom?
Pingback by Real Estate Roundup - Week 16 on 19 April 2009:
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Comment by New Homed on 20 April 2009:
I have seen some “sticks in the air,” surrounding the Houston area recently. Not sure if home buyers or bankers are responsible…
Comment by kent on 21 April 2009:
this slump has to come to an end, my brother living in the us is also one of the sufferers and he tells me stories of how bad is the situation. i on the other hand in uk and the things here are not much different.I moved in a new neighborhood, i was searching for property to let in central london for quite some time and i accidentally found this amazing website no agents 24 with loads and loads of information about tips for tenants, tips for moving, hips. I really like my new house. i went out for some fresh air today early morning, although i am generally not the morning person type but i have to admit i really enjoyed it.
Comment by randi on 24 April 2009:
that’s a great effort, keep it up