Builder confidence remained steady in November, maintaining the gains made over the summer season. The National Association of Home Builders (NAHB) announced last month that builder confidence in the newly built, single-family homes market remained above 50, at a revised level of 54. NAHB Chairman Rick Judson notes, “Given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes.”
Any number reported above 50 suggests that more builders are feeling optimistic about the future of the market, compared to those who have a less-than-promising outlook. The new number was pulled from the NAHB/Wells Fargo Housing Market Index (HMI), which has been conducted every month for the last 25 years. Data produced from the HMI is highly regarded as a guide to homebuilders and can indicate the health of the new homes market.
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David Crowe, NAHB Chief Economist, states, “The fact that builder confidence remains above 50 is an encouraging sign.” An encouraging sign indeed! It is great to hear that homebuilder confidence is doing so well, even into the fall and winter seasons. Typically, during this time of year, the housing market cools off significantly – for no reason other than more people putting their home hunting efforts on the backburner during the holidays. With homebuilder confidence this positive, and other marked improvements in the economy, this holiday season might prove to be a very successful one for the housing market!
And, it’s possible that 2014 could be just as successful. This would be in part to more homebuyers recognizing how favorable the current market is and wasting no time buying a home they love. Lower mortgage rates, better-built homes, and a healthier overall economy all contribute to make this one of the best times to buy a new home.
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With the nicest homes available in new and welcoming neighborhoods, any Arcadia community is perfect for you and your family. Our locations in Ashburn and Winchester, VA as well as Charles Town and Martinsburg, WV, mean that anyone can find a home they love in a town they love! Pair this with a home that’s built with the best features and finishes available – not typically offered in other new home communities – and it’s clear that Arcadia is the right choice!
