Yesterday the National Association of Home Builders reported a level of 64 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive sentiment. In October 2014 the HMI was at 54. 64 is the highest level since late 2005.
“With October’s three-point uptick, builder confidence has been holding steady or increasing for five straight months. This upward momentum shows that our industry is strengthening at a gradual but consistent pace,” said NAHB Chief Economist David Crowe. “With firm job creation, economic growth and the release of pent-up demand, we expect housing to keep moving forward as we start to close out 2015.”
More positive real estate news:
- The HMI has been positive since mid-2014.
- The HMI has been in the 60s since June 2015.
- The 30-year fixed-rate mortgage averaged 3.82 percent as of last week, according to Freddie Mac.
- This is the 12th straight week below 4 percent.
There’s never been a better time to buy a new home at Springbank of Plainfield! Come check out what our incredible builders have available. Make an appointment to visit today!