Home Builders Feeling Good
July 19, 2009 by Bob Schenkenberger · 3 Comments
News this week that construction starts of single family homes spiked in June. The 3.6% increase brought starts to an annual rate of 582,000 units, the highest level since November, and followed a 562,000 pace in May. Even more encouraging, building permits, a sign of future construction, rose the most in the past 12 months.
It seems that after the past couple of years of liquidations and mergers, home builders are feeling a little more upbeat these days. The July National Association of Home Builders/Wells Fargo Housing Market Index jumped to 17, a two-point improvement over June’s reading and its highest level since September 2008.
Affordable money, shrinking inventories, and positive economic news have started to improve the attitude of real estate, builders, and the public alike.
Bob has been an active REALTOR for 18 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@gethomedenver.com) or phone (303.770.1180.)
Yeah, about time new home starts seen some good news. Think we’re slowly heading back up.
Adam, thanks for stopping by and weighing in. I agree with you, a slow and steady improvement has begun.
.-= Bob Schenkenberger´s last blog ..Denver Metro Market Update July 2009 =-.