Home | Newsletter | Advertise
loading...

Home Builder Confidence Reaches Six-Month High

  • April 15th 2009

by Mark Wellborn

✉️ Want to forward this article? Click here.

Home Builder Confidence Reaches Six-Month High: Figure 1

The National Association of Home Builders issued a press release today announcing that builder confidence for newly built, single-family homes rose five points in April, the largest one-month increase since May 2003. It is now at its highest level since October 2008.

According to the release, every component of the Housing Market Index (HMI) “reflected the boost, with the biggest gain recorded for sales expectations in the next six months.”

Here is a quote from National Association of Home Builders chief economist David Crowe:

“This is a very encouraging sign that we are at or near the bottom of the current housing depression. With the prime home buying season now underway, builders report that more buyers are responding to the pull of much-improved affordability measures, including low home prices, extremely favorable mortgage rates and the introduction of the $8,000 first-time home buyer tax credit.”

The most recent data on new home sales from the Commerce Department complemented this outlook: Home sales in February rose 4.7%, and housing starts increased 22.2%.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_builder_confidence_reaches_six-month_high/804.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse