According a survey released today by the National Association of Home Builders, confidence among homebuilders rose this month to its highest level in six years and many expect the housing recovery to strengthen in the next six months.
The National Association of Home Builders/Wells Fargo builder sentiment index increased to 40, from 37 in August. That’s the highest reading since June 2006, just before the housing bubble burst.
A reading below 50 indicates negative sentiment about the housing market. The index hasn’t topped that level since April 2006, the peak of the housing boom.
But a measure of builders’ outlook for sales the next six months rose to 51. That’s up from 43 in August and also the highest level since June 2006.
The survey is based on responses from 445 builders. It has been trending higher since October. Derived from a monthly survey that NAHB has been conducting for the past 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor.
Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.
Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.