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Builder confidence grows

By
Real Estate Agent with Keller Williams Realty

This is a good sign - in our market it seemed like October there were very few buyers out looking, with it improving in December and January.  Now that the latest NAHB/Wells Fargo Housing Market Index (HMI) has been released it reveals what I thought, that January was better than December.  The index is just coming off its all time low but at least moving up is good.  Basically, the builders are reporting seeing more people looking at their homes - sales will follow activity.  Sandy Dunn, the 2008 president of the National Association of Home Builders (NAHB) said  builders remain cautious about the outlook for new-home sales market with today's economic environment, the fact that more consumers are checking out their options is a good sign.

I think buyers are sitting on the sidelines waiting to see if the pricing improves any - once the builders firm up their pricing, which they will once their inventory levels come down, then the resale market will still have to absorb the foreclosure wave, but I definitely see firmer resales in the future. 

 

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