Homebuilder Confidence Increasing | June 2012
According to the Builder Sentiment Index recently released by the National Association of Home Builders/Wells Fargo, it appears that homebuilder, as well as consumer, confidence in the housing market is increasing and is now at a five-year high. This index, compiled from the responses of 478 builders, showed that, nationwide, home builders have seen higher new construction sales this year, possibly buoyed by falling mortgage rates and an otherwise decreasing market inventory. In June, the NAHB reported that the number of building permits for single family homes are at their highest levels since March 2010, and there were more housing starts in June than in almost 4 years.
Consumer confidence appears to be trending upward in the Boise Idaho real estate market too. New construction sales in the Boise real estate market have risen consistently this year, from a low in January of 25 new home sales to a high of 58 in May; new home sales for June slipped just slightly to 55. These totals are higher than the same time period in 2011 and 2010, with the exception of June 2010, when new home sales climbed to 69.
Source: ‘US Homebuilder Confidence at 5-Year-High”, by Alex Veiga, Idaho Statesman, 8/15/12.
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