Home builder confidence has hit a five-year high, while housing affordability has seldom seen better days. Â
Buyers are in a position to buy, and as job markets continue to improve, Buyers have more to spend, and they can capitalize on todayâ€™s housing affordability.
Builder confidence surged points from a slight slump in April, to 29 on a scale of 100, the NAHB reported today. The jump is established by improved buyer traffic and amplified home sales, as reported by home builders.
The latest Housing Affordability Index validates the perspective that market conditions are potentially as friendly to home Buyers as they have ever been. The index, which measures affordability based on the relationship between median home cost, median relative income and average mortgage rates of interest, broke the 200 mark for the first time since record keeping began in 1970, NAR announced today.
The excellent news is home sales are rising, overall activity is expected to be notably better this year!
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