Home Builder Confidence hits all-time record, These are great news for the economy, let me explain:
Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83.
As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year.
Since then, it has soared back.Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:
- The Northeast increased 11 points to 76
- The Midwest jumped 9 points to 72
- The South rose 8 points to 79
- The West increased 7 points to 85
Confidence Is Validated by the Numbers
A separate report from the Mortgage Bankers Association (MBA) shows mortgage applications for new home purchases increased by 33.3% compared to a year ago.
Bottom Line
If you’re thinking about putting your house on the market but are afraid you may not find a home to buy, let’s connect to discuss new construction opportunities in our area.
– Get your San Antonio Home Valuation Here
Connect with me on Facebook for updates and information.
[showcaseidx_hotsheet name=”San Antonio – ALL – H”]
