Builder Confidence Shows Largest Monthly Increase Ever!
Because they are the ones leading the charge on new construction, builders have one of the most accurate views into the health of the housing market.
And, as we move out of the COVID-19 pandemic and related restrictions, builders are extremely confident in the market moving forward.
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (outlined in a recent CNBC article), builder confidence in the market for newly built single-family homes jumped in June to 58, an increase of 21 points—which not only indicates a positive market (any score over 50 qualifies as a positive market), but is also the largest monthly increase in the index’s history.
“As the nation reopens, housing is well-positioned to lead the economy forward,” said the National Association of Home Builders Chairman Dean Mon, in the CNBC article. “Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising.”
What does this mean for you? This vote of confidence from the building community is a great indicator that the housing market is only going to get better—so if you have been thinking about buying or selling a home, now is a great time to make a move.