Friday, September 20, 2019 / by Lauren McGinnis
The index has been holding in the mid 60 range since May of this year. Readings that are above 50 points are considered positive and show that builders are confident in moving forward with new construction. Low interest rates and a solid demand are continuing to fuel builders sentiments even thought there have been some ongoing supply challenges that have hindered the affordability of the housing being built.
National Association of Home Builders (NAHB) Chief Economist Robert Dietz says, "Solid should formations and attractive mortgage rates are contributing to a positive builder outlook. However, builders are expressing growing concerns regarding uncertainty stemming from the trade dispute with China." NAHB's home building index does indicate that the slow down in manufacturing is not slowing down the growth in rural and exurban areas of the nation at this time.
Builders are able to move forward confidently that there is a demand for new attractive housing in our area right now! The Housing Market Index gauging the current sales conditions also increased to 75 points! With the component measuring the level of prospective buyers holding steady, showing that there is not going to be a slow down any time soon!
Prospective home buyers continue to increase making it a great time to sell your home or lot! If you are interested in what your house or lot would be worth in today's market give us a call and we will be glad to give you all the information you need to make an informed decision. You can call us anytime at 239-542-3332