New Home Market Has Builder Confidence

Posted by John Sabia on Thursday, September 3rd, 2015 at 3:22pm.

When looking for answers about how the new construction homes for sale and condos for sale market is fairing, the the National Association of Home Builders (NAHB) audits builders/developers monthly because of their unique view point. The NAHB's Housing Market Index studies answers from builders on a scale where any amount over 50 signals the majority of builders view the market favorably rather than negatively.

In August of this year, the index level reached 61.  This rating was the highest it has been since November 2005. NAHB's chief economist David Crowe adds the report is very much aligned with the groups prediction for the year. Mr. Crowe said, “Today's report is consistent with our forecast for a gradual strengthening of the single-family housing sector in 2015. Job and economic gains should keep the market moving forward at a modest pace throughout the rest of the year.”

In addition, Mr. Crowe said, “Of the index's three individual components, two improved over last month. The index measuring buyer traffic was up two points to 45, while the component gauging current home sales conditions rose one point to 66. Sales expectations for the next six months remained high but unchanged from the month before at 70. You can read further details about this story here.

photo of new construction home for sale

John Sabia

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