Homebuilders haven’t been this confident about sales, the outlook of future
sales, and buyer traffic since June 2006, which is right before the housing
crisis took hold, a new index shows.
For September, the National Association of Home Builders/Wells Fargo builder
sentiment index, which measures builders’ outlook on current sales, future
sales, and buyer demand, reached its highest level in six years. Plus,
homebuilders expect the housing recovery to strengthen within the next six
months.
Homebuilders say they’ve experienced some of the best sales levels they've
had in six years, and buyer traffic has returned to May 2006 levels, the index
shows.
"We think things have turned around and this recovery is sustainable,"
Patrick Newport, an economist with IHS Global Insight, told the Associated
Press.
The index has been edging higher since last October, coinciding with reports
that show sales and home prices inching up too.
Source: “Index
of US Homebuilder Confidence Improves; Builders Anticipate Sales Strengthening
into '13,” Associated Press (Sept. 18, 2012)
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