“IT’S A GREAT TIME TO BE A BUILDER” Home Builder Sentiment Posts Biggest Monthly Surge Ever

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Wow – great news for the economy!  Home Builder sentiment posted the biggest monthly surge ever recorded!

It’s a great time to be a builder!

The home building industry is on fire.  CNBC reported yesterday:

A faster-than-expected turnaround in homebuyer demand, following a sharp drop-off at the start of the coronavirus pandemic, has the nation’s homebuilders bullish on their business again.

Builder sentiment jumped a striking 21 points in June to 58, the largest monthly increase ever in the National Association of Home Builders/Wells Fargo Housing Market Index. Any reading above 50 indicates a positive market. In April, it plunged a record 42 points to 30.

“As the nation reopens, housing is well-positioned to lead the economy forward,” said NAHB Chairman Dean Mon, a homebuilder and developer from Shrewsbury, New Jersey. “Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising.”

Meanwhile, mortgage applications to purchase a newly built home jumped 10.9% annually in May, according to the Mortgage Bankers Association.

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Reports are that pressure treated lumber is virtually non-existent in many markets.

With the lowest interest rates in 30 years and the market recovery already in progress – it’s a great time to be a builder!





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