Builder Confidence Hits 7-Year High, New Home Sales Rising

Builder Confidence Hits 7-Year High, New Home Sales Rising

In continuing signs the housing market is on the upswing, builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released this week. Any reading over 50 indicates that more builders view sales conditions as good than poor. “This is the first time the HMI has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases,” said NAHB Chairman.http://us-mg5.mail.yahoo.com/neo/launch?.rand=539utrvdh8mrc Please email me at gkucer@yahoo.com  if you have or know of anyone with real estate needs.