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Homebuilder Confidence Rises Again; Tops 40
Home builder confidence continues to make new highs.
As reported by the National Association of Home Builders, the Housing Market Index, a measure of builder confidence, rose to a reading of 40 in September -- its highest mark since June 2006.
The index is now higher through five straight months and 11 of the last 12.
For home buyers in Parkland , the survey may be signaling higher new home prices ahead; when builders are more confident in housing, they may be less likely to make concessions in price, and to "sweeten" deals with free upgrades and/or subsidized mortgage rates.
The Housing Market Index is published monthly, based on responses to a 3-question survey that the NAHB sends to its members. The questions cover three distinct parts of a builder's business, each requiring a simple, one-word answer.
Builders are asked to respond with "Good", "Fair" or "Poor"; or, "High", "Average", "Low" to the following three comments :
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