Homebuilder Confidence Is Returning
Posted:
Thursday, March 29th, 2012
Category:
Industrial Skills
This spring has put a spring in homebuilder confidence, as surveys seem to show. The latest results revealed that for the first time in over two years, homebuilder confidence is up: new home sales in January rose 3.5 percent over the same period last year, and higher by one percent over the fourth quarter of 2011.
The reading is cause for excitement in the construction sector, especially among contractors who have already finished their contractors continuing education, as it signals not just that homebuyer confidence is coming up, but also that the housing recovery is indeed underway.
“Outside of the upwardly revised December number, this is actually the best sales pace we’ve seen since April of 2010, when the home buyer tax credit was in effect,” announced Barry Rutenberg, chairman of the National Association of Home Builders (NAHB).
NAHB economist David Crowe noted that the steady progress the housing sector is now able to achieve only points to the fact that a genuine recovery is underway, not only in the economy but also in the housing market. “Increasingly, potential buyers are feeling better about their financial situation and their ability to buy a home.”
According to housingpredictor.com foot traffic at new homebuilder subdivisions is significantly heavier than at the beginning of housing market collapse, a sure sign that consumer confidence and consumer interest in buying new homes are making a comeback.
