Home Builders confidence on the rise for the second straight month.
Home builders have some promising signs to be happy about. Rex Nutting, of the Dow Jones Business News, reports that the National Association of Home Builders said that its members are feeling more optimistic about the near future and that the index has risen for each of the past two months.
The index went up to 31 in October and 33 in November after being at a 15-year low of 30 in September. The index in June of 2005 peaked at 72 and was at 61 this time last year. It seems as if the market is slowly heading back up according to these indicators. This is good news for the economy and everyone involved with real estate including the builders, realtors, buyers and sellers.
Nutting reports that David Pressly, president of the National Association of Home Builders believes “More and more builders are seeing light at the end of the tunnel. Our members are telling us that the market is steadying after a significant downward correction. We look for sales to stabilize and gradually move up in the coming months.”
It appears that many economists are agreeing with this assessment including the chief economist for FAO Economics which is quoted as saying “The data tell us that the worst of housing is behind us.”
We see a dramatic increase in activity in the Naples, Florida real estate market. Signs of improvement such as the number of visitors and part-time residents returning to the area, open houses, viewings and contracts have increased for the Ruth Bethem Real Estate Team over the past month. Everyone is in the “ready” mode for the upcoming selling season with many properties on the market to choose from and many under fair market value. It remains a buyers market and will probably remain so throughout the next year.