Sales expectations among single-family home builders for the next six months increased two points in August to 25, while current sales conditions increased by one point to 16, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The component that measures traffic of prospective buyers remained at 12.
The NAHB/Wells Fargo HMI monitors builder perceptions of current single-family home sales and sales expectations for the next six months, where a score greater than 50 indicates that more builders view sales conditions as good than poor.
"While our overall measure of builder confidence remains at a record low at this time, it is a good sign that two out of three of the HMI's component indexes rose in August," said NAHB Chief Economist David Seiders. "This may be an indication that we are nearing the bottom of the long downswing in new-home sales."
If builder confidence continues then that shows early signs of the market growing as a positive investment for buyers and sellers in future real estate investments. If you have been waiting for the right time to buy this is it, call us today or go to our website www.countyforeclosures.com .