This July, builder confidence in the United States in new, single-family homes is at its highest point since November 2005. This is according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on July 10.
“The fact that builder confidence has returned to levels not seen since 2005 shows that housing continues to improve at a steady pace,” says NAHB Chairman Tom Woods. “As we head into the second half of 2015, we should expect a continued recovery of the housing market.”
In the past few weeks, a very strong real estate market has been evident. Sales have been up and consumer confidence is also at a high. Builders, however, were having challenges keeping up with demand because of labor and space shortage. The fact that their confidence is currently at a ten-year high is a great sign for the already flourishing market, and signals even greater gains for the future.
“This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets,” said NAHB Chief Economist David Crowe. “However, builders still face a number of challenges, including shortages of lots and labor.”
Two specific components rose in the July index. These were the components gauging current sales conditions as well as that charting sales in the next six months. Highs in these categories mean builders are confident with the building and real estate market currently, and are optimistic for its future.
RE/MAX Paradise offers many listings of single family homes, both lived in and recently built. With so many aspects of the real estate market currently expressing confidence and optimism, it is clearly the right time for you to purchase your dream home in Miami! Contact a RE/MAX Paradise agent
today to learn all about the real estate opportunities this beautiful city has to offer.