Home Builder Confidence At 5 Year HighMay 15 2012
The National Association of Home Builders/Wells Fargo builder sentiment index rose this month to 29, the highest level it's been since May 2007! Another hopeful sign of an improving housing market, the index rose from the reported 24 last month. Homebuilders report that they've seen an increase in sales and a high amount of traffic from prospective buyers.
This good news follows other positive signs that the home market is improving. In March, builders requested the highest number of permits to build new homes in three and a half years. In addition, the number of signed contract for new home purchases increased in March to the highest level in two years.