With new home construction and sales at record levels, it’s no surprise that housing market jitters are on everyone’s lips. According to data released by the National Association of Realtors, existing home sales have increased 5.4 percent in March and 5.8 percent in February, respectively. However, a decline of 12 percentage points for all real estate markets this year is considered too much by some analysts. The latest housing data will be released on Wednesday and Thursday, but most analysts are expecting a modest downturn. Jeff Galindo | New Door Residential Las Vegas – Gated Communities In Summerlin NV
A report by the National Association of Home Builders (NAHB) shows that housing market sentiment index hit a record high in December. The index indicates that home buyers and sellers are confident that the housing market will improve in the months ahead. The index also indicates that buyer foot traffic has increased. The reading above 50 indicates a positive trend. The NAHB is opposed to cuts to the mortgage interest deduction. Business-related tax cuts are boosting confidence.
The housing market has experienced a steady recovery since the Great Recession ended. The previous peak in the housing market was in 2006, and prices have been steadily rising ever since. While some analysts predict a slight slowdown, a higher housing volume will likely fuel further home construction. In addition to the increase in construction volume, a low unemployment rate will help home builders remain competitive. In addition to the resale market, new home construction and resales will support the economy.
The national association of home builders (NAHB) reported that its housing market sentiment index jumped to an all-time high in December. This index measures the optimism in the housing market. Its current sales conditions climbed to 81 while expectations for the next six months rose to 79. Moreover, buyer foot traffic jumped to 58. Generally, any reading above 50 indicates that the housing market is booming.
Recent housing market data has shown that housing prices are on the rise. The previous peak was in 2006, and the housing market has recovered from the shock of the financial crisis. Despite the resales and foreclosures, there is still a decline in new home construction and resales. The government’s own data is also encouraging for resale and new homebuilding. In fact, it’s one of the most active sectors in the country today.
Last week, the National Association of Home Builders reported a record high in the housing market sentiment index. The index includes two major metrics: current sales conditions and expectations for the next six months. The NAHB said that the housing market sentiment index hit a record high in December and is on the rise. It is also worth noting that the numbers for new construction and resales are increasing, while construction of single-family homes dropped.