2020 Confidence In The Housing Market

Dated: 01/15/2020

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A builder's business depends on being able to gauge how interested Americans are in buying a house. After all, no one would go through the labor and expense of building a house without feeling confident that they'd be able to find a buyer once it was finished.
 
 
  That's why the National Association of Home Builders (NAHB) measures builder confidence each month. If builders are optimistic and building homes, there's a good chance that the overall housing market is also doing well. In December the NAHB's Housing Market Index - which is scored on a scale where any number above 50 indicates that more builders view conditions as good than poor - reached 76. That's the highest reading since June 1999.

Greg Ugalde, NAHB's chairman, said builders are responding to a rebound that began last spring. "Builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates, and a strong labor market," Ugalde said. Among index components, the one measuring current traffic saw the biggest month-over-month improvement, rising seven points to 84.
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Priscilla Dickerson

Priscilla "Cill the Deal" was educated in Ohio with three degrees from Cuyohoga Community College, Kent State University, and Cleveland State University. She and her husband are the grateful parents o....

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