Homebuilder confidence levels remain unchanged at 58 points for the month of September. While this isn’t an increase from the previous month, it’s a promising sign that the economy is recovering at a sustainable rate.
The National Association of Home Builders (NAHB) has conducted the NAHB/Wells Fargo Housing Market Index (HMI) survey every month for 25 years. Measuring three key components, the index is designed to gauge the perception of homebuilders and their outlook over the next six months.
Any level above 50 means that more homebuilders perceive the future of the housing market to be more promising rather than not. Maintaining our current level of 58 is considered as progress, and a better alternative to losing points.
“While builder confidence is holding at the highest level in nearly eight years, many are reporting some hesitancy on the part of buyers due to the sharp increase in interest rates,” said Rick Judson, NAHB Chairman in a press release. However, Judson goes on to explain how mortgage rates “are still quite favorable on a historic basis.”
All four major regions (the Northeast, Midwest, South, and West) saw gains in their HMI three-month average. In September, the sub-index for the traffic of prospective buyers even increased. It’s clear that the nation is recovering and working towards a stronger economy. And as homebuilders see more potential in the market, it will encourage buyers to re-enter the market.
While it’s a great time for first-time buyers to test the market, it’s an even better time for those searching for their second home. Our Bayside community is the perfect place on the Delaware coast for second-time homebuyers looking for a vacation home or a place to enjoy their retirement. Our new homes are beautifully built and truly encompass a coastal lifestyle.
Buying a home in a beach community is one of the best ways to invest your money. These homes greatly increase in value over the years, and with the improving economy, will become an even greater asset to you and your family.
Embrace beach community living with Delaware’s first ever Jack Nicklaus Signature Golf Course, a resort pool, tennis courts, the Cove Bar & Grille, and endless nature trails all within Bayside. Could you imagine this and much more, only four miles from the ocean?