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Builder Confidence Is Still Rising

The National Association of Home Builders’ most recent NAHB/Wells Fargo Housing Market Index increased four points, up to 49. The 50-mark represents “normal” confidence levels in the housing market, so June’s reading is indicative of builders’ continued rising optimism within the industry.

In February, the index dropped ten points to 46 from an eight-month run above the 50-mark line. As the readings are beginning to climb again, builders are starting to see their customers’ confidence return as well, in turn making them confident in the housing upswing.

Builders are optimistic, but cautious at the same time. A few reasons include the fact that construction crews are difficult to find and keep. Builders only want to add homes when they feel most confident that a home can be finished on time and, upon completion, a buyer will be available and willing to make a purchase. The June recovery, according to the index, was evident across all three factors.

Read the full article from NAHB here.

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