Register Real Estate Advisors

WASHINGTON (Associated Press) – Home builder confidence in current sales rose two index points in February to 17 after falling two consecutive months, according to the National Association of Home Builders.

 Builders’ outlook for sales over the next six months climbed one point to 27, and traffic by prospective buyers remained at 12 index points. 

The index for the Midwest and South regions increased two points but dropped one point in the Northeast and West.

 The index reflects a survey of 528 residential developers across the nation. Index readings below 50 indicate negative sentiment about the market. The last time the index reading exceeded 50 was April 2006.

NEW YORK (McGraw-Hill) – The value of Texas construction starts will advance 16 percent to $52.5 billion this year, according to the 2010 Texas Construction Outlook from McGraw-Hill Construction.

Growth is expected for each of Texas’ major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.

Other highlights from the report:

• Housing starts in Texas are expected to advance 31 percent to $21.8 billion in 2010, with single-family housing growing 31 percent and multifamily housing gaining 34 percent.
• Nonresidential construction starts will slip 1 percent to $17.6 billion, suffering from declines in commercial and industrial starts.
• Federal stimulus funding will assist public works and utilities construction as starts rebound 21 percent to $13.1 billion in 2010.

I have added a Glossary of Contruction Terms to my web site that will be helpful if you are building a new home or buying a new construction home.  This list of terms was compiled by the Champions School of Real Estate.  From the front page of my site you can click on GLOSSARY. Then, on the right hand side of the page you will see Click Here for Glossary of Construction Terms.  I have completed the comprehensive course of study in Successful New Home Sales Representation so that I can assist buyers with new construction builds and purchases.