Monday, April 27, 2009

New home builders gain confidence

The National Association of Home Builders (NAHB) is reporting that builder confidence is at its highest level since October 2008. Newly built, single-family homes gained five points in April according to the Wells Fargo Housing Index (HMI) reflecting the largest one-month gain since May of 2003.

So what does that mean for you as a buyer? It means the time is right to act - no more sitting on the fence - because as you wait, others will be taking action. The confidence level is a good indication that consumers are returning to the market.

The report from the NAHB also cites that other good indicators for new construction as the prime buying season, improved affordability levels, favorable market rates and the $8,000 tax credit offered by the federal government. However, the NAHB cautions that in order to take advantage of the tax credit, you must be in your new home by December 1, 2009. All contracts and agreements must be closed by that time.

As a new construction specialist, I am here to help you find the right New Jersey home and navigate the system to take advantage of all opportunities that await you. I am the exclusive agent for Dogwood Meadows a new residential community in Mercer County New Jersey. However, I am available and ready to help you find the right new home for you. Call me now for an appointment. Joe - (609)658-2612

No comments: