According to Realtor Magazine home builders are feeling upbeat about where the new-home market stands currently as well as where its heading. Builder confidence in the newly built single-family home market surged in July, reaching the highest level since November 2005.

     The National Association of Home Builders/Wells Fargo Housing Market Index reached a level of 60 in July. Levels over 50 indicate more builders are optimistic about sales expectations and buyer traffic.

     "The fact that builder confidence has returned to levels not seen since 2005 shows that housing continues to improve at a steady pace," says NAHB Chairman Tom Woods. "As we head into the second half of 2015, we should expect a continued recovery of the housing market."

The increase in optimism coincides with the recent data showing a pick-up in new and existing home sales, as well as strong job growth, says NAHB Chief Economist David Crowe. However, Crowe notes, builders still face several headwinds, including shortages of lots and labor.

 

 

 

 

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