market seems to be gaining more confidence; in fact the building market is the
highest it’s been in 6 years after an 8 month continuous increase. The National Association of Home
Builders/Wells Fargo Market Index, (NAHB), reports a level of 47 in the month of December.
NAHB chief economist David Crowe says, “While
there is still much room for improvement, the consistent upward trend in
builder confidence over the past year is indicative of the gradual recovery
that has been taking place in housing markets nationwide and that we expect to
continue in 2013.”
NAHB Chairman Barry Rutenberg, and also a
home builder from Gainesville, FL says, “Builders across the country are
reporting some of the best sales conditions they’ve seen in more than five
years, with more serious buyers coming forward and a shrinking number of vacant
and foreclosed properties on the market.
However, one thing that is still holding back potential home sales is
the difficulty that many families are encountering in getting qualified for a
mortgage due to today’s overly stringent lending standards.”
Even with a
rating of 47 in the Index, there is still a larger negative outlook than
positive, according to an article in the Chicago Tribune.
However, the building industry continues to be encouraged. Room for improvement; indeed.