The index measuring building confidence in the market for new single-family homes jumped four points from the March level. Tom Woods, Chairman of National Association of Home Builders (NAHB), said that as the spring buying season gets underway, home builders are confident that current low interest rates, and continued job growth, will draw consumers to the market.
The NAHB/Wells Fargo Housing Market Index (HMI) is derived from a survey conducted by NAHB and Wells Fargo Bank. Among the NAHB's new home-builder members, the HMI rose to 56 in April. The index components also gained ground in April. The measure of sales expectations jumped 5 points to 64, and the component measuring current sales conditions rose from 58 to 61.
According to David Crowe, NAHB Chief Economist, the HMI component index measuring future sales expectations rose five points in April, which is the highest level of the year. The increase shows that home-builders are feeling optimistic that the housing market will continue to strengthen throughout this year.
For all of your real estate needs, contact Cook Real Estate Services today at (678) 207-1505, or you can e-mail us at info@CookRES.com. Whether you are buying or selling, one of our trusted professionals will be there to help you every step of the way.
Comments(0)