Builder confidence ticks up to 5-year high

Builder confidence ticks up to 5-year high

Confidence among U.S. builders ticked up this month to a five-year high, an indication that the housing market is slowly improving.

The National Association of Home Builders/Wells Fargo builder sentiment index rose in June to 29, the highest reading since May 2007. It increased from a reading of 28 last month, which was revised down one point from its initial figure.

The index, which was released Monday, has risen in seven of the past nine months, suggesting builders are starting to see the seeds of a recovery taking shape after years of stagnation.

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Homebuilders Back at Work in Pierce County

Homebuilders Back at Work in Pierce County

Homebuilders in Pierce County are getting up off the dirt. In the past few months, new homes have started to appear, here and there, across the county. One or two go up at a time, filling in neighborhoods that have sat, pockmarked with empty lots, for almost four years.

The new-home market seems to be at the beginning of a true recovery – one driven by customer demand. Permits shot up in 2010 because of federal stimulus, in the form of a tax credit for new home purchases. But when the credit expired, customers disappeared. Last year was almost as bad as 2009, now viewed as the bottom of the market.

In the first four months of 2012, the rate of permitting for single-family homes is up about 10 percent in the county from 2011.

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The Changing Landscape of Single-Family Homes

The Changing Landscape of Single-Family Homes

As household spending and income adapt to meet the needs of today’s economic conditions, new single-family home have followed suite. In a surprise divergence from recent trends, homes seem to be on a growth spurt again.

According to the latest Census Bureau data homes for the first half of 2011 new home being built were following this surprising trend. Data found that in comparison to 2010 the average size of homes grew along with the number of four+ bedroom homes.

This data is surprising considering that many potential homebuyers have been sidelined by high unemployment and weak economic growth…

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Kiss These 10 Once-Popular Home Features Goodbye

Kiss These 10 Once-Popular Home Features Goodbye

Times are tough in the home-building industry, meaning the 500,000 or so new single-family homes expected to be built this year are going to include more practical and value-conscious features and fewer wish-list items…

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Homebuilder optimism up for 5th straight month

Homebuilder optimism up for 5th straight month

For the fifth consecutive month, homebuilders are feeling upbeat about prospects for the market in single-family homes, offering another positive signal for the depressed housing industry.

The NAHB/Wells Fargo Housing Market Index rose to 29 from 25 in February, hitting the highest level in four years, the National Association of Home Builders said on Wednesday.

The index has climbed 15 points since September and is now at its highest level since May 2007…

…“Builder confidence has doubled since September as measured by the HMI,” said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth.”

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