Home Builder Confidense Biggest in 5 Years

“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.