Real estate recovery? Builder confidence at 7-year high - WALB.com, South Georgia News, Weather, Sports

Real estate recovery? Builder confidence at 7-year high

By ALEX VEIGA, AP Real Estate Writer

For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.

The National Association of Home Builders/Wells Fargo builder sentiment index leaped to 52 this month from 44 in May.

A reading above 50 indicates more builders view sales conditions as good, rather than poor. The index hasn't been that high since April 2006, just before the housing market collapsed.

Measures of customer traffic, current sales conditions and builders' outlook for single-family home sales over the next six months also soared to their highest levels in seven years.

Steady job growth, low mortgage rates, rising home prices and tight supplies of homes for sale have supported a recovery in housing this year.

 

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • FIRST ALERT: Alberto's projected impacts across SWGA

    FIRST ALERT: Alberto's projected impacts across SWGA

    Sunday, May 27 2018 11:10 AM EDT2018-05-27 15:10:10 GMT
    A disturbance in the Caribbean will bring rain to Southwest Georgia the rest of this week and into next week. (Source: WALB)A disturbance in the Caribbean will bring rain to Southwest Georgia the rest of this week and into next week. (Source: WALB)

    The first named storm of the 2018 hurricane season makes its debut before the season officially begins.

    More >>

    The first named storm of the 2018 hurricane season makes its debut before the season officially begins.

    More >>
  • Radium Springs resident wants to see residential improvements after 2017 storms

    Radium Springs resident wants to see residential improvements after 2017 storms

    Sunday, May 27 2018 11:09 AM EDT2018-05-27 15:09:43 GMT
    Every morning when Chris Reetz walks out her front door she sees this broken trees and destroyed houses that were once homes for families. (Source: WALB)Every morning when Chris Reetz walks out her front door she sees this broken trees and destroyed houses that were once homes for families. (Source: WALB)

    It's been 16 months since the January 2017 tornado ripped thorough Southwest Georgia.

    More >>

    It's been 16 months since the January 2017 tornado ripped thorough Southwest Georgia.

    More >>
  • American Red Cross preparedness tips ahead of flash flooding

    American Red Cross preparedness tips ahead of flash flooding

    Sunday, May 27 2018 12:12 AM EDT2018-05-27 04:12:40 GMT
    The American Red Cross said they are prepare before the storms hit. (Source: WALB)The American Red Cross said they are prepare before the storms hit. (Source: WALB)
    The American Red Cross said they are prepare before the storms hit. (Source: WALB)The American Red Cross said they are prepare before the storms hit. (Source: WALB)

    Here in Southwest Georgia the American Red Cross has been working the last couple of days to prepare for the storm.  The American Red Cross has been getting their relief supplies ready across the 19 county region.  

    More >>

    Here in Southwest Georgia the American Red Cross has been working the last couple of days to prepare for the storm.  The American Red Cross has been getting their relief supplies ready across the 19 county region.  

    More >>
Powered by Frankly