According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), in January 2014, builder confidence for newly built, single-family homes fell by one point to 56 after a somewhat unexpected jump in the last month of 2013.
As markets continue to improve, future home sales continue to look positive given the rising prices for homes and low mortgage rates, although there are also rising construction costs. There is also demand which should help with the gradual recovery during 2014.
This Index takes a look at a builder’s perceptions of current single-family home sales expectations projected over the next six months. The index gauging current sales conditions fell to 62, while the index gauging expectations for future sales fell to 60. The index gauging traffic of prospective buyers fell three points to 40.
The actuals include three-month moving averages for regional HMI scores. The West and Northeast each rose to 42 and 63, respectively, or four points each. The South was at 56, while the Midwest fell to 58, only one point.
As many homeowners have listed their current homes for sale, they are starting to get serious about building their dream homes – therefore looking at properties, land and online house plan websites like The Plan Collection. (http://www.theplancollection.com). Here visitors are finding the latest styles in home designs to guidance from the company’s blog about the latest trends in designs.
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