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Jeff Kremers' Blog

By Jeff Kremers | Agent in Grand Rapids, MI

New Home Construction On The Rise

Builders are continuing to feel more optimistic about the prospects for new-home sales, showing a five-point increase in confidence this month.

In a second piece of housing news, sales of existing homes in October were up 10.9% from October 2011, and the national median price for an existing home was up 11.1% year over year.

The boost in builder confidence, the seventh straight increase in the measure known as the National Association of Home Builders/Wells Fargo Housing Market Index, brings builder confidence to the highest level since May 2006.

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