Builder Confidence Hits 11-Year High In many areas of the country, there are not enough homes for sale to satisfy the number of buyers looking to purchase their dream homes. Experts have long proposed that a ramp-up in new, single-family home construction would be one of the many ways to overcome this inventory shortage.
The improvement in single-family construction at year-end signals the industry is beginning to focus on the biggest part of the market, perhaps encouraged by gains in employment and consumer.
Sentiment among U.S. home builders took a sharp jump in June to the highest level of the year, despite rising costs for consumers. Builder confidence rose five points to 59 from May’s reading on the National Association of Home Builders’ Housing Market Index (HMI). This is the highest reading since [.]
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Home construction under way in Carlsbad, calif. confidence readings were at least 50 in three of four regions in June. In the Midwest, the builder-confidence reading rose to 57 in June from 44 in May.
By then, they were both working as teachers and had two young children, a mortgage and a car payment. It didnt make financial sense. Then, on a drive home from Nashville. seeing their.
Out of the 105,027 units in the pre-construction, under construction and occupancy phases, 18,744 units were unsold – above historical averages but down 3% from a year earlier. The share of total units sold reached a 10-year high of 82%. Resale condominium apartment sales hit a record high of 5,238 units in Q2-2014, up 12% from a year ago.
The current sales gauge for single-family homes cooled to 79 from 80. The first builder-sentiment reading for 2018, albeit a decline from a 18-year high, is consistent with other reports that indicate residential construction will build on recent growth, as a solid job market, relatively low mortgage costs and rising confidence help propel.
It is a classic conversation in the home building industry, the moves as well rehearsed as the opening of a chess game between two champions. There is an obvious, logical path and arguments for both sides when it comes to the adoption of new technologies and codes and builders’ general resistance to.