Builders Are Feeling More Optimistic
Article by: Melissa Dittmann Tracey, REALTOR® Magazine Daily News
Builders Are Feeling More Optimistic
Signs are improving in the new-home market and builders are feeling more optimistic about where the real estate market is heading, after coming off last year’s worst year on record for new home construction.
For the fifth consecutive month, builder confidence in the single-family home market increased in February, reaching its highest level in four years.
“Builder confidence has doubled since September,” says Barry Rutenberg, chairman of the National Association of Home Builders. “Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Market Index, this consistency suggests that the housing market is moving toward more sustainable growth.”
While the jumps in builder confidence have been an encouraging sign for the industry, housing experts warn that confidence is still historically low, and that foreclosures, low appraisals, and more stringent credit standards continue to hamper the new-home market’s full recovery.
Source: Melissa Dittmann Tracey, REALTOR® Magazine Daily News; Daily Real Estate News (February 16, 2012) | Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee
February 16, 2012 Posted by kbargers | economy, real estate | bargers solutions, barry rutenberg, blog distribution, builder confidence, february 2012, housing market conditions, kenneth bargers, melissa dittmann tracey, Nashville, National Association of Home Builders, new home market, optimistic, pilkerton realtors, realtor magazine daily news, tennessee | 1 Comment
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