WASHINGTON, D.C. (National Association of Home Builders) – Home builder confidence jumped more in the last month than it has in nearly a decade.
According to the National Association of Home Builders (NAHB) Housing Market Index (HMI) for July, it is the highest it has been since March 2007. Builder confidence rose six points on the index to 35. Every industry component and every region recorded gains.
“Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved,” said Barry Rutenberg, NAHB chairman and home builder from Gainesville, Fla. “This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.”