Builder confidence rises in September 2012
Posted on Wednesday, September 19, 2012 at 9:18:39 PM
There's more good news pertaining to the real estate market - builder confidence is up for the fifth consecutive month. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), confidence levels for the single-family housing market rose to a level of 40 - a three point gain that brought the index to its highest level since June 2006.
As the market continues to improve, the pool of potential homebuyers actively seeking residential financing to purchase a new home or existing property may rise. This latest news indicates the growing strength of nation's economy and will provide industry experts and everyday consumers greater confidence.
"This fifth consecutive month of improvement in builder confidence provides further assurance that the housing market is moving in a positive direction, but there’s still a long way to go on the road to recovery and several obstacles are slowing our progress," said NAHB Chairman Barry Rutenberg.
Rising expert confidence could boost the strengthening economy, as modern construction projects pop up in metro areas across the United States to meet the growing demand of urban housing.