Home Builder Confidense Biggest in 5 Years
April 17, 2009 by admin
Filed under Positive Real Estate
“If you’re a potential buyer who’s been sitting on the fence waiting for a sign that now is the time to act, this is it,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “Some of the most favorable buying conditions in a lifetime are now in place, and they are drawing more consumers back to the market.”
Builder confidence newly built, single-family homes rose five pts in April to the highest level since October 2008. This according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
This gain was the largest one-month increase recorded since May of 2003, and brings the HMI out of single-digit territory for the first time in six months – to 14. Every component of the HMI reflected the boost, with the biggest gain recorded for sales expectations in the next six months.
Affordability is Back!
April 10, 2009 by admin
Filed under Positive Real Estate
- 55 million families-or half of all U.S. households-can afford today’s $200,000 median-priced new home (National Association of Home Builders (NAHB)
- A typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.
- Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down.
