A recent study by the National Association of Home Builders/Wells Fargo Housing Market Index reveals homebuilders are feeling more confident in sales expectations than they have in almost nine years. Builder confidence in the newly built, single family home market rose for a fourth consecutive month in September to a level of 59, according to the latest Housing Market Index (HMI). This brings the index to its highest point since November of 2005.
With a strengthening job market, demand for new homes is steadily trending upward and regaining builder confidence; however, there has been slightly slower activity from first-time homebuyers, due to the strict credit and financial requirements to get a home loan, compounded by the rising costs for materials and lots.
The HMI measures conditions of current sales, traffic of prospective buyers and expectations of future sales. All three components posted gains in September, which means that buyer interest is growing in the housing market. Regionally, every area of the United States reflected gains in builder confidence.
So what does this mean for you? With the value of homes rising, it’s smart to invest in improving your home now, to make it even more valuable for when you choose to sell. That’s where Granite Transformations can help. Whether you are looking to buy a new home or renovate your existing one, Granite Transformations can make your dream kitchen and bath a reality with beautiful granite, quartz and recycled glass countertops, mosaic tile backsplashes and cabinets. We welcome your comments about this topic below.